Research On Valuation Of Financial Insurance Group Whose Main Business Is The Property Insurance

With the steady economic development of our country,the insurance market is becoming more and more mature;with the reform of financial supply-side,the competition in the insurance industry will be more incentive;how to evaluate insurance companies is particularly important,which can provide reference indicators for investors in the secondary market,also from the practical operation level,it can provide value theoretical basis for the merger and reorganization of insurance companies.However,the research on the value of insurance companies remains at the level of general enterprise value.For the life insurance business,the proposed method of embeded value effectively compensates for the underestimation of life insurance companies under the statutory accounting standards,while for the assessment of property insurance business,there is only the evaluation of general enterprise accounting indicators.The selection of valuation models are mostly model-based,but with the emergence of financial insurance groups,the specific valuation of sub-sectors is the general trend.For different plate valuation,we can not only understand the value driving factors of insurance companies,but also provide a theoretical basis for a series of economic activities.This paper takes the PICC as the research object,and mainly uses the overall valuation and the partial valuation to evaluate the value of the PICC separately.In the two parts of valuation,different valuation models are used to fit the characteristics of the business sector.In this paper,the residual income valuation model has the advantages of cash flow discount model,and through the derivation of its valuation model,we can know that it is more in line with the shareholders' demand for maximizing returns;while the division valuation method can "strike accurately" against different business sectors.It can provide theoretical research reference for insurance company's capital market activities such as investment,merger and acquisition.