| In August 2013,ordinary life insurance reserve rates were officially opened 2.5%of the interest rate cap,marked the launch of China's life insurance rate marketization,which is a major reform and challenges for the whole life insurance industry.With the maturity of interest rate marketization,rate marketization is an inevitable trend and an effective measure to deal with various financial crises.The insurance regulatory commission relaxed the supervision of the life insurance industry,which can effectively promote the orderly competition of the whole industry and improve the overall adjustment level.Based on combing the existing rate of marketization and the life insurance business performance in the literature research,the article summarized the main conclusions and important contributions of the existing study,and analyzed the present situation of whole life insurance industry.Finding that the premium income growth is flat,increasingly fierce competition for a second-tier cities territory in whole life insurance industry,industry concentration improved to further.Structure including premium income and the risk of life insurance company channel is optimized.Even the overall investment yields have improved,but there are still nearly half of the loss of life insurance companies.Analyzed the present situation of life insurance industry,this article selects 40 life insurance companies in China in 2010-2015 financial data,using principal component analysis method to measure the overall efficiency of the sample companies value.The results showed that only China life,Ping an life insurance,China Pacific life insurance life insurance companies operating efficiency value has been high,and Tianan life,China-gennan life.Happiness life,Hundres life has been on negative efficiency value.There is a huge difference between different life insurance companies in business performance value.And then see the efficiency of the value concluded by the method of principal component analysis as the explained variable,select market share,the original premium income,per capita profit indicators as explained variable,rate marketization is set to the virtual variables,using least squares regression analysis to set up the regression model.In order to conclude that the efficiency values associated with these variables,the coefficient between the analysis of the results.The empirical results show that the premium income is negatively related to the insurance company's business performance,owners' equity growth rate,per capita profits,market share,market and efficiency values are positively related.According to the results,the life insurance companies should improve their performance level by seizing the opportunities brought by marketization of rate,' improvig product innovation ability,improving the management level and enhancing their ability to scale and investment to deal with the impact of the marketization of rate. |
PDF Full Text Request