Gao Guofu, Chairman of China's Turbo two major challenges facing the life insurance industry

Turbo in China (601,601, unit) on May 18, 2010 annual general meeting of shareholders. Gao Guofu, Chairman of Turbo said at a shareholders ' meeting, sales channels and products for the life insurance industry as a whole is facing a new challenge. Introduction to Turbo President and Executive Director Huo Lianhong, Pacific property insurance next comprehensive cost rate target remains the industry leader. Life insurance life insurance growth face challenges over the next 5 years to 10 judgments, introduction to Gao Guofu, Turbo development of life insurance business the past few years better than the industry average. Life insurance business development in the future, there is a good one. For example, the entire "35" period, central to increase the income of people in a very important position. At the same time as the city trend of ageing, the central focus on old-age care and support will also provide a good environment for the development of the life insurance industry. Recommended reading insurance weekly: increased warehouse investment over 30,000,000,004 months insurance funded deposits moved near billions of cast even insurance May then case Waterloo income differentiation country life cast even insurance success escape top 5 name foreign executives joined China peace Qian May Beijing insurance intermediary was penalty million history with shares mass insurance holding 20% Qiming: shocks city in the how mining Daniel unit but also should see whole life insurance industry of development, its Foundation also enough firmly. Life insurance is currently facing two major challenges, a major challenge is the main creator of new business value marketing channels. Marketing member of the marketing channel of system of employment system faces significant challenges. If the new labor contract law, subversive of the adjustments to the system, which can pose a major challenge to the industry as a whole. The second challenge we have to see. Rapid growth of the premium and the other channels are channels of banking and insurance. Last year out of the 90th, the CBRC, China insurance regulatory Commission, the CBRC common this year out of the 10th. This is actually a required development models transformation of banks and insurance companies. Who can transition faster, who is likely to win the opportunity in change. But, challenges are very large. "We are stepping up their response to this challenge. "Gao Guofu said. Gao Guofu believes that sales channels and products for the life insurance industry as a whole is facing a new challenge. And Turbo Board has foreseen this kind of challenge, is a positive response. We hope that the next three years to maintain the growth of life insurance better "Gao Guofu admits. Gao Guofu pointed out at the general meeting of shareholders, many banking shares, holding insurance companies is another challenge for life insurance. Many banks holding insurance companies, had "its own" insurance company, is expected to bank insurance company of the future will have a generation of ultra rapid development. But on the scale of insurance companies formed a marketing team of hundreds of thousands of people, that the team is the main creator of the new business value. Deal with this situation, Turbo this year's goal is to "focus marketing", by accelerating the development of marketing channels, speed up the marketing channels on the value of new business contribution to achieving the overall performance of continuous growth. Industry-leading insurance property insurance cost rate, Pacific property insurance cost rate reaches best level since 3 years. This Turbo President and Executive Director Huo Lianhong explained that due to the further strengthening of insurance supervision, a large promotion of comprehensive cost rate. Secondly, overall consumption growth fastest in China. Third Turbo management increase risk control. And changes in accounting standards last year, also benefits the comprehensive rate improvement. So the reduction in the cost rate for the industry. Future, Pacific property insurance's goal is to continue to maintain a market-leading integrated cost rate