Summary of solvency report China The Pacific Securities Co.Ltd(601099) insurance (Group) Co., Ltd
Year 2021
catalogue
1、 Basic information 1 II. Changes in the group's ownership structure and member companies 1 III. main indicators 4. Actual capital 1 v. minimum capital 2 VI. major events 3 VII. Risk governance and risk strategy 3 VIII. Identification and evaluation of group specific risks four
1、 Basic information
(I) registered address
No. 1, Zhongshan South Road, Huangpu District, Shanghai
(II) legal representative
Kong Qingwei
(III) business scope
Holding investment insurance enterprises; To supervise and administer all kinds of Chinese and international reinsurance businesses of holding investment insurance enterprises; To supervise and manage the fund application business of holding investment insurance enterprises; Approved to participate in international insurance activities.
(IV) contact person and contact information for public disclosure of solvency information
Contact name: Huang danyan
Office Tel.: 02133968093
mail box: [email protected].
2、 Changes in equity structure and member companies of the group
The equity or control relationship of each member company of the company and the increase or decrease of member companies have been disclosed in the 2021 annual report of the group.
3、 Main indicators
Project closing balance opening balance
Core solvency adequacy ratio 260% 282%
Core solvency surplus (10000 yuan) 40122319412169
Comprehensive solvency adequacy ratio 266% 288%
Comprehensive solvency surplus (10000 yuan) 315826233347786
4、 Real capital
Project closing balance opening balance
Actual capital (10000 yuan) 5066201451076552
2014 core capital: rmb6.62 million (Tier 1)
Core tier 2 capital (10000 yuan) --
Subsidiary tier 1 capital (10000 yuan) 1000000
Subsidiary tier 2 capital (10000 yuan) --
5、 Minimum capital
Project closing balance opening balance
Minimum capital (10000 yuan) 1907938917728766
Including: minimum quantified risk capital (10000 yuan) 1907938917728766
1) Minimum capital of parent company --
2) Minimum capital of insurance member companies 1907938917728766
3) Minimum capital of banking member companies --
4) Minimum capital of securities member companies --
5) Minimum capital of trust member companies --
6) Group level quantifiable unique risk minimum capital --
7) Increased capital requirements for risk aggregation effects --
8) Reduced capital requirements for risk diversification effects --
Minimum risk control capital (10000 yuan) --
Additional capital (10000 yuan) --
Note: the quantifiable minimum risk capital at the group level, the increase of capital requirements for risk aggregation effect, the decrease of capital requirements for risk dispersion effect, the minimum risk control capital and additional capital have yet to be stipulated by the CBRC.
6、 Major events
During the reporting period, there was no major investment loss, no major external guarantee, no financial crisis of its subsidiaries and joint ventures or takeover by other regulatory authorities.
7、 Risk governance and risk strategy
1. Risk governance structure and situation of the group company
The company has established a risk management organization structure with the ultimate responsibility of the board of directors, direct leadership of the management, relying on the risk management department and close cooperation of relevant functional departments, covering all institutions and posts. The board of directors of the group and its subsidiaries is the highest authority for risk management of their institutions, and is ultimately responsible for their respective risk management systems and working conditions. The board of directors has a risk management and connected transaction control committee to perform risk management responsibilities under the authorization of the board of directors. In 2021, the risk management and connected transaction control committee held six meetings to consider relevant risk matters and reports.
The operation and Management Committee of the company is responsible for organizing and implementing risk management, setting up a chief risk officer, and reporting risk management and risk status to the risk management and connected transaction control committee of the board of directors on a quarterly basis. The group's operation and Management Committee has a risk management and audit committee, which is responsible for the formulation, coordination and implementation supervision of various decisions of the company's decision-making level in the professional field of risk and compliance management.
The group headquarters has set up a risk management center to take the lead in the daily affairs of risk management, and set up a risk monitoring department and a legal compliance department to organize and coordinate the daily work of risk monitoring, legal compliance and internal control construction. Each insurance subsidiary has an independent risk management department. The risk management department is the organization for the overall implementation of various decisions made by the operation and management in the field of risk management, and organizes, guides and supervises all departments to implement various daily risk management affairs determined by the management. The group headquarters and other functional departments and branches of the insurance subsidiary have defined the risk responsible person and set up corresponding risk management posts to be responsible for the risk management within their scope of responsibility and communication with the risk management department.
2. Overall risk management strategy and its implementation of the group company
The overall strategy of the group's risk management is to establish reasonable risk management objectives in combination with the company's development strategy, organizational structure and business characteristics, and under the guidance of this objective, support and promote the realization of the company's business objectives and strategic planning through a sound risk management system, standardized risk management processes and the use of advanced risk management mechanisms and tools.
In accordance with the requirements of solvency regulatory rules, the group has formulated a risk appetite system, which is evaluated and updated as necessary every year. In 2021, the risk appetite system of the group and its insurance subsidiaries was generally well implemented and reported to the risk management and related party transaction control committee of the board of directors of the group on a quarterly basis.
8、 Group specific risks
(I) risk infection
According to the regulatory requirements, the company has established a strict risk firewall mechanism in business operation, personnel management, fund management, information system, regulating internal transactions and other aspects to effectively prevent the diffusion and amplification of relevant risks within the group and control the risk infection to the lowest level.
(II) organizational structure
The company has a clear equity structure, complete corporate governance and insurance based business type, which effectively prevents the risk of loss of the group due to the opaque organizational structure.
(III) concentration risk
According to relevant regulatory requirements, the company regularly identifies, evaluates, monitors and reports different types of concentration risks at the group level and at the level of major insurance member companies, including investment and reinsurance counterparty concentration risk, insurance business and non insurance business concentration risk, investment asset concentration risk, etc, Effectively prevent the adverse impact on the group's solvency or liquidity caused by the aggregation of individual risks or risk combinations of member companies at the group level.
(IV) non insurance risks
The company attaches importance to the risk management in the non insurance field, insists on focusing on the insurance industry, strictly complies with relevant regulatory regulations, prudently manages the investment in the non insurance field, continuously pays attention to and prevents the adverse impact of the business activities of non insurance member companies on the solvency of the insurance group and insurance member companies, and protects the interests of policy holders.
