Barbarian statement from the earliest to Bryan Burrough's "in front of the barbarian" one book, "barbarians at the gate" is Wall Street used to describe a hostile acquirer.
The "barbarians" struggle "I hope that you do not give the insurance company to wear the hat of the barbarians, and we have wronged ah." Not long ago, an insurance company executives half jokingly told the Securities Times reporter said.
Ping An Securities chief non bank financial analyst to pay the text Super does not agree with the insurance funds is the barbarians. He said, savage said on the insurance funds placards too exaggerated phenomenon.
On the controversy, China Life chairman Liu Yiqian disagree. He said, justice is a normal phenomenon in the capital market, there is no need to care about how the outside world interpretation.
As long-term funds, insurance funds has been the introduction of high-quality capital, is also the banks, funds, trusts and other financial institutions competing institutions, then why the A shares market will be questioned as barbarians? Insiders said, "insurance company directly in the secondary market to buy shares, and before the first placards often don't listed company and other shareholders communication, which makes the controller of some listed companies feel nervous."
In fact, two secondary market placards is a way Xichou cost is very high, not hidden by venture capital placards patent. Based on cost considerations, before the industrial capital, the first private listing Corporation and most placards, will not communicate.
Whether the insurance fund is to control the right of control is not the key to the barbarians. From the point of view of the venture capital raised placards the vast majority of cases, the main purpose is financial investment and strategic synergy, which financial investment accounted for most of the proportion.
"In addition to some insurance industry chain phase associated companies, the vast majority of listed companies actually not worry about insurance funds to compete for control, because the insurance company does not really want to control for so many of the insurance industry of the company." An insurance Asset Management Co executives told the Securities Times reporter said.
In addition, as a long-term investment, insurance funds want to have more rights in the dividend, which is also a reason for the insurance funds to enter the board of directors of the listing Corporation.
Too much trouble.
Since the beginning of this year placards more insurance companies have a characteristic, is the insurance business rapid growth and size of the premium income is very high.
On August 28, Fude life insurance announced the company this year premium income has exceeded 100 billion, ahead of the completion of the annual task into billion club ". And the establishment of 3 years ago in Qianhai life before July premium income has been over 40000000000, more than last year.
"The rapid growth of the asset side, the pressure on the investment side increased, making the insurance companies need to find a higher return assets to configure." Analysis of the Asset Management Co.
If insurance companies pursue higher returns, the risk will be increased. This year, the economic slowdown, the downward trend in fixed income products face downward trend, the insurance companies need to adjust the asset allocation, to reduce credit risk and interest rate risk in the big basket.
However, the allocation of equity is not the home of the insurance funds, the money is more than the need to bring the insurance company through a variety of channels to ease. Insurance funds in addition to the A-share market in the A firm blue chip, high dividend selection criteria, the alternative investment also spent a lot of effort.
This year, the insurance company of the relatively high returns of alternative investment growth is also very fast. According to the China Insurance Regulatory Commission statistics, in July of this year, the use of insurance funds is 10173086000000 yuan, an increase of 9.02% compared with the beginning. Among them, the alternative investment 2689768000000 yuan, an increase of 2014 yuan over the end of 481900000000, accounting for 2.7 percentage points higher.
It is understood that the insurance company's alternative asset investment policy has been further relaxed. In September 11th, the China Insurance Regulatory Commission website issued the Interim Measures for the management of asset support programs, the establishment of the insurance fund for private equity related matters notice. China Insurance Industry Association in September 25th released the "small and medium life insurance company Development Research Report" suggested that the small and medium-sized insurance companies can increase the allocation of alternative investment, improve investment ability.
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