而基于承保盈利的显著改善和投资收益率提升 来灯自由论坛

The three listed insurance firms released yejiyuzeng notice Taibao last year net profit by 60% – reporter Liu Jingyuan as of yesterday, the Shanghai and Hong Kong market listed insurance firms, Chinese life insurance, Pacific Insurance and China Chinese Taiping has released 2015 yejiyuzeng notice. China Pacific Insurance net profit growth rate is expected to reach 60%, a substantial increase in investment income is the main reason; China Taiping expects net profit growth of 50%. China Life Insurance, due to the reduction of the traditional insurance reserve discount rate hypothesis, has been affected by profits, expected to increase by 5%-10%. China lowered the reserve actuarial net profit growth of 5%-10% Chinese life January 29th announcement, preliminary estimates by the company, is expected to net profit attributable to shareholders of the parent company 2015 annual growth of about 5%-10% compared to the same period in 2014. In 2014, China Life Insurance realized 32 billion 211 million yuan net profit attributable to shareholders of the parent company, earning 1.14 yuan per share (basic and dilution). China life from two aspects explain the growth performance of 5%-10%, on the one hand, investment income increased the company’s 2015 annual profit increase; on the other hand, update the traditional insurance actuarial assumptions Reserve discount rate assumption changes, reducing the profit for the period. Haitong Securities research reported, according to the announcement of China life estimates, 2015 full year net profit of about 33 billion 822 million yuan -354.32 million, corresponding to earnings per share of 1.20 yuan -1.25 yuan. Among them, the fourth quarter single quarter profit of -16 billion yuan, compared with the fourth quarter of 2014, 4 billion 658 million yuan fell sharply, lower than market expectations. Research reported that net profit fell sharply in the fourth quarter of China life, mainly because interest rates lead to the adjustment of reserve hypothesis, insurance contract reserve benchmark yield curve downward, resulting in the traditional insurance reserves increase, pre tax profit decreased. "Change has a great impact on the life insurance profit discount insurance contract reserve benchmark rate, many times since 2015 to cut interest rates led to the 750 day moving average bond yields sharply reduced, while the traditional life insurance China reserves accounted for more than 50%, the negative impact of profit is the most obvious." Research Report expects the Reserve discount rate down for the influence of Chinese life in 2015 full year profit of more than 9 billion yuan, for fourth quarter profit of about 3 billion 500 million yuan. Haitong Securities Research Report predicts that China Life Insurance in 2015 the total investment yield of more than 6%, while in 2016 to reach 5% also has more difficulty. At the same time, the 750 day moving average treasury bond yield is expected to continue downward, will lead to reserve increase and pre tax profit reduction. Therefore, in 2016, China life insurance faces greater performance pressure, and net profit is expected to be flat or slightly lower than that of 2015. It is expected in 2016 will continue to China life transformation, the main measures include a dangerous channel will continue to enhance the long-term cross product sales ratio, to further enhance the product value of new business profit rate; Bancassurance will enhance the exchange of new single premiums proportion, and strive to achieve the internal channel value of new business growth through structural adjustment. On China

三上市险企发布业绩预增公告 太保去年净利增60%   ■本报记者 刘敬元   截至昨日,沪港两地市场的上市险企中,中国人寿、中国太保和中国太平已发布2015年业绩预增公告。中国太保净利润增速最高,预计达60%,投资收益大幅增长是主因;中国太平预计净利增长50%。而中国人寿由于下调传统险准备金折现率假设,利润受到影响,预计增幅在5%-10%。   国寿下调准备金精算假设   净利预增5%-10%   中国人寿1月29日公告,经公司初步测算,预计2015年度归属于母公司股东的净利润较2014年同期增长约5%-10%。2014年,中国人寿实现归属于母公司股东净利润322.11亿元,每股收益(基本与稀释)1.14元。   中国人寿从两方面解释了业绩增长5%-10%的原因,一方面,投资收益增加等使得公司2015年度利润增加;另一方面,传统险准备金折现率假设变动等精算假设的更新,减少了部分本期利润。   海通证券研报称,其据公告测算,中国人寿2015年全年净利润约338.22亿元-354.32亿元,对应每股收益1.20元-1.25元。其中,第四季度单季实现利润-16亿元,较2014年第四季度的46.58亿元大幅下滑,低于市场预期。   研报称,中国人寿第四季度净利润大幅下滑,主要是因为利率下调导致的准备金假设调整,保险合同准备金计量基准收益率曲线下行,导致传统险准备金计提增加,税前利润相应减少。   “保险合同准备金基准折现率变动对寿险利润产生较大影响,2015年以来多次降息导致750天移动平均国债收益率出现较大幅度下调,而中国人寿传统险准备金占比超过50%,利润受到的负面影响最大。”研报预计,准备金折现率的下调对于中国人寿2015年全年利润的影响超过90亿元,对于第四季度单季利润的影响约35亿元。   海通证券研报预计,中国人寿2015年总投资收益率达6%以上,而2016年要达到5%亦有较大难度。同时,750天移动平均国债收益率预计仍将继续下行,将导致准备金计提增加和税前利润减少。因此,2016年中国人寿面临较大业绩压力,预计净利润较2015年基本持平或小幅下滑。   其预计中国人寿2016年将继续转型,主要措施包括,个险渠道将继续提升长期期交产品的销售比例,进一步提升产品新业务价值利润率;银保渠道将提升期交新单保费的比例,力争通过调整结构实现渠道内部新业务价值的增长。中国人寿2016年将持续重视价值建设,内含价值预计仍将实现10%以上增长。   太保投资收益大幅增长   净利预增60%   1月27日,中国太保发布业绩预增公告称,经公司财务部门初步测算,预计2015年度实现归属于公司股东的净利润与2014年同期相比,将增加60%左右。2014年,中国太保实现归属于公司股东净利润110.49亿元,基本每股收益1.22元。以此计算,中国太保2015年净利润有望达到178亿元。   中国太保称,2015年度业绩预增的主要原因是公司2015年投资收益同比大幅增长。   太保并未披露其寿险、财产险等分部业务盈利状况,招商证券(香港)研报预计,其寿险业务2015年利润增长36%,新业务价值增长超过50%,领先同业,其新业务边际亦有改善,预计太保2016年新业务价值增长将依旧强劲。   而基于承保盈利的显著改善和投资收益率提升,该研报估算其财险业务盈利增长近400%,并认为,太保财险成本率优化的拐点可以在即将于3月份披露的年报中得到确定,进而将提升公司投资价值。   另外,1月27日,在香港市场上市的中国太平公告,2015年度的净利润将较2014年同期增长超过50%;其2014年净利润为40.4亿港元。 进入【新浪财经股吧】讨论相关的主题文章: