December 9, 2016 / 3:56 AM / in 8 months

惠譽:增速放緩,中國非壽險保險公司或將維持利潤率

(The following statement was released by the rating agency) Link to Fitch Ratings' Report: 2017 Outlook: China Non-life Insurance here HONG KONG, December 08 (Fitch) 本文章英文原文最初於2016年11月07日發布于:<a href="https://www.fitchratings.com/site/pr/1016083">Fitch: China Non-Life Insurers May Retain Margins, Defy Slowdown 惠譽評級已將中國非壽險行業的評級和行業展望維持為穩定,因為惠譽預計非壽險行業將可能維持穩定的利潤率,儘管市場增長放緩。保險公司將繼續保持充足的緩衝資本,以抵禦承 保波動和資產風險。但巨災風險仍將威脅保險公司的償付能力穩定性。 惠譽認為中國的經濟增速放緩可能使近期中國對非壽險產品的需求降低。商業車險定價市場化試點以及增值稅改革的執行會弱化中國非壽險公司的增長勢頭。來自電話營銷渠道的保費 可能穩步下滑,因為在引入汽車定價市場化試點後,該渠道的價格優勢已經消失。 惠譽認為市場化改革試點不會在近期內對車險公司的利潤率造成負面影響,雖然保險公司因為競爭而下調了定價率。非壽險行業的賠付率已經由於索賠頻率的降低而減少,因為無賠償 折扣優惠促使投保人不進行小額索賠。然而,由於市場競爭和新參與者的不斷湧入導致銷售的成本升高將會限制保險公司改善其承保利潤率的能力。 惠譽預計在2017年,非壽險行業的緩衝資本(按照中國風險導向的償付能力體系(償二代)計算)將保持良好。儘管增長勢頭緩慢,保險公司為業務擴張而增加資本金的靈活程度 將可能維持不變。過去兩年內,大部分保險公司通過注資和盈餘增長改善了自身的資本金水平。新的風險導向償付系統於2016年開始實施,惠譽認為保險公司將更關注改善資本效 率和風險管理能力。 穩定的展望反映出惠譽認為,鑒於中國非壽險保險公司目前的承保能力,其巨災風險將會通過恰當的再保險保護得到緩解。一系列氣候相關自然災害的索賠已經影響了保險公司201 6年的承保業績。如果此類重大災難的凈損失嚴重損害了整個非壽險行業的保險公司償付能力充足性,那麼惠譽可能會考慮將評級展望和行業展望調整為負面。 本報告《2017年展望:中國非壽險行業》請參見<a href="https://www.fitchratings.com">www.fitchratings.com 或點擊本新聞稿上方鏈接。 聯繫人: Terrence Wong(王長泰) 董事 +852 2263 9920 惠譽國際評級有限公司 香港中環德輔道中68號 萬宜大廈19樓 Joyce Huang(黃佳琪) 董事 +852 2263 9595 Jeffrey Liew(劉思淇) 高級董事 +852 2263 9939 Media Relations: Wai-Lun Wan, Hong Kong, Tel: +852 2263 9935, Email: wailun.wan@fitchratings.com. 詳情參見<a href="https://www.fitchratings.com">www.fitchratings.com 注意:本新聞稿為中文譯本。如有疑問,請以英文版本為準。 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. 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