Xinhua Insurance 2016 quarterly results, though not beautiful, but it shows the firm determination of the company's restructuring and development and make unremitting efforts. Silver deposit insurance premium growth of 107.8%, pay wholesale bank and insurance declined 35.4% surrender rate decreased 2.1%, cold behind the numbers reflects the significant change in the value of the transformation of the NCI.
In the first quarter, China Life Insurance operating income of about 55.3 billion yuan, down 17%, net profit attributable to parent company about 20 billion yuan, down 45% decline in performance was mainly due to investment income down, and negative growth in premiums earned 750 Japanese bond yields moving average downlink make mention three factors led to the reserve and the like.
Specifically, the NCI in the first quarter pretax profit of 2.2 billion yuan, representing a reduction of 2.49 billion yuan over the same period in 2015, down 53%, mainly due to the decline in investment income and reserves due to the increase of investment income in the first quarter dropped sharply 36%, mainly due to stock market volatility led to stock investment spread income up sharply reduced floating surplus has shrunk dramatically about 26 million, pre-tax profit for the first quarter of the direct impact of about -18 billion, in addition, 750 day moving average bond yields in 2016 began to enter the fast downstream channel, resulting in a significant increase in traditional insurance reserves, net profit for the first quarter of the direct impact of approximately -7 million.
In the first quarter, Xinhua Insurance risk of new security to achieve 51.3% of the high growth rate, and focus on the development of health insurance business. It is understood that in 2016 'a good start' period, Xinhua Insurance product strategy sound, not sold 4.025 percent a predetermined interest rate products in under bancassurance premiums of post substantial growth of 107.8%, the wholesale pay premiums fell 35.4%, showing that the NCI transition adamant larger restructuring efforts. surrender rate downward from 2.1 to 3.7 percent, since the 2013 surrender inflection point after the first occurrence of a downlink rate continues upward, the value of the transition to the beginning of the service quality good sign now.
Xinhua Insurance to achieve a quarter of total investment return rate of 6.0%, in 2016 the investment rate of return greater downward pressure on the ability to find quality projects, to enhance the performance and stability play a role.
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