Chang ‘an’s liability solvency declined in the third quarter



Information times dispatch (reporter li jingjing) as the property insurance industry in the third quarter of the solvency of the gradual disclosure, the solvency of some insurance companies caused concern in the industry. According to the third quarter solvency report, in the third quarter of this year, the comprehensive solvency adequacy ratio of changan liability insurance co., LTD (hereinafter referred to as “changan liability”) changed from positive to negative, from 152.3% in the previous quarter to -41.5% in the current quarter.

Industry insiders said that this is related to the company’s performance guarantee insurance compensation, so far the cumulative compensation has been close to 2 billion yuan, and the outstanding balance of insurance liability is still 2.2 billion yuan. How to improve the solvency of the follow-up, as of the reporter submitted, changan responsibility has not yet clear answer.

Solvency is well below the regulatory red line


According to the third quarter solvency report, chang ‘an’s core solvency adequacy ratio and comprehensive solvency adequacy ratio are lower than the regulatory red line of 50% and 100%.

Affected by this, on December 3, the changan liability tracking rating of capital supplementary bonds disclosed by Japan debt credit rating co., ltd. in 2016 showed that due to the decline in the credit quality of changan liability, the company immediately carried out this irregular tracking rating, and decided to change its main credit rating from. A” Cut to A – & throughout; , included Credit watch list ” And rank the debt from A – & throughout; Cut to BBB + & throughout; .

In response, a major life insurance company senior actuary told reporters that the solvency of the insurance company. Negative & throughout; The number will not immediately affect the company’s business ability, but also combined with the company’s cash flow, net assets to evaluate the situation. According to the solvency report of the third quarter, the net cash flow of chang ‘an liability in the third quarter was -33.119 million yuan, while its net assets were 17.2277 million yuan.

Or additional capital through shareholder capital increase

Seen from the net cash flow and net assets of the third quarter, at present, the capital of chang ‘an responsibility is quite tight. In the future, chang ‘an may gradually solve the problem of capital shortage through capital increase of shareholders. However, in recent years, supervision has become increasingly strict on the examination and approval of capital contribution of shareholders, emphasizing the necessity of self-owned capital contribution, and the examination and approval time is relatively long, which also brings numerous tests to the promotion of capital increase of shareholders. Throughout The actuaries indicated further.

Changan liability in the third quarter solvency report pointed out that; At present, the company is still facing great liquidity pressure. The company will further strengthen liquidity risk management in the following work to prevent the occurrence of liquidity risk. Specifically, the company has deployed measures such as strengthening the disposal of recovery assets to accelerate the return of funds and ensure the company’s liquidity. Throughout

The industry pointed out that in addition to the capital increase by shareholders can make the capital gradually. Loosen & throughout; In addition, changan may increase the return of capital by selling some assets, so as to cope with short-term capital payment pressure.

According to the industry pointed out that the current changan liability for existing risks, the provision for impairment and reserves a total of 400 million yuan. And the company estimates that the current stock of insurance business risk has been greatly reduced, it is expected to increase capital by the end of the year through capital and share expansion, to solve the solvency problem.