Shanghai Securities News (reporter Han Songhui) the reporter learned from the China Banking and Insurance Regulatory Commission that when answering reporters’ questions today, the press spokesman of the China Banking and Insurance Regulatory Commission said, “the national endowment insurance company is a professional endowment insurance operation organization and will actively participate in the construction of the third pillar endowment insurance. We encourage the company to innovate boldly in business operation, risk control and management mechanism and system and actively participate in the pilot of endowment finance.”
According to the spokesman of the CBRC, according to the company’s development plan, the national endowment insurance company will focus on the development of innovative pension financial businesses such as pension annuity insurance, exclusive commercial pension insurance and commercial pension plan, and strive to meet the diversified pension security needs of the people.
A spokesman for the CBRC said that since 2021, the CBRC has earnestly implemented the decision and deployment of the CPC Central Committee and the State Council on standardizing the development of the third pillar of pension insurance, steadily promoted the development of commercial pension finance, and successively launched the pilot of exclusive commercial pension insurance and pension financial products. Overall, the pilot is progressing smoothly and all parties have responded well.
First, in June 2021, six insurance companies launched a pilot of exclusive commercial endowment insurance in Zhejiang Province (including Ningbo) and Chongqing. By the end of February 2022, the pilot company had underwritten 71800 insurance policies, with a total premium of 472 million yuan, including more than 12000 employees of Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) , new business types. The characteristics of exclusive commercial endowment insurance, such as simple insurance, flexible payment and stable income, have been gradually understood and accepted by consumers. Insurance companies have initially formed a business model in line with their own characteristics, especially accumulated some experience in serving Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) , employees of new formats and flexible employees. On the basis of summing up experience, the CBRC decided to expand the pilot area of exclusive commercial endowment insurance to the whole country from March 1, 2022, and include endowment insurance companies in the pilot.
Second, in September 2021, four financial management subsidiaries carried out pilot pension financial products in Wuhan, Chengdu, Shenzhen and Qingdao. Compared with general financial products, pension financial products highlight the characteristics of “stability, long-term and inclusive”, which is more in line with Lbx Pharmacy Chain Joint Stock Company(603883) long-term pension needs and life cycle characteristics. At present, several pilot products have been successfully sold. Through careful evaluation and summing up experience, from March 1, 2022, the pilot scope of pension financial products will be expanded from “four places and four institutions” to “ten places and ten institutions”. At the same time, BlackRock Jianxin financial company, which is controlled by foreign capital, will also join the pilot and will launch relevant products in the near future.
A spokesman for the China Banking and Insurance Regulatory Commission said that in addition, the pilot of pension savings is about to be launched, and the pilot of commercial pension plan mainly for low-income and middle-income people is stepping up preparations. At the same time, the CBRC has recently launched a series of policies to standardize and promote the development of pension insurance institutions, support the construction of pension insurance institutions, encourage them to participate in pension financial reform, further enrich the supply of pension finance and meet the diversified pension needs of the people.
The spokesman of the CBRC said that in the next step, the CBRC will continue to promote the development of commercial pension finance in an orderly manner, encourage and support banking and insurance institutions to actively explore and innovate based on the pension needs of the people, launch more diversified pension financial products, optimize the management mechanism, create a new situation in the development of pension finance with novel business, high-quality service and prudent operation, and effectively enhance the people’s sense of access Sense of happiness and security.
