Turned such security financing domestic trade insurance blowout

Original light domestic trade credit insurance (hereinafter referred to as "domestic insurance") was ushered in blowout prices. A few days ago, COFACE and ping an of China (601,318, unit) jointly organized a forum on the outgoing message, the two institutions to carry out domestic insurance business in the last two years of high growth, even a blowout early this year, completed 4 months before the annual premium income last year. "Domestic insurance" also known as accounts receivable insurance, insurance companies insured resulting from buyer default, bankruptcy, lost in the lower solvency reasons such as loss of accounts receivable be liable for a risk-reward mechanisms. 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 however, traditional Shang was considered enterprise should accounts receivable paragraph "umbrella" of domestic trade insurance, now in credit crunch of financial large background Xia, is was widely as a item similar "guarantees" of financing tools. According to an insurance company, especially this year, insurance against domestic SMEs in the vast majority were directed at financing. "Such security" financing tool of ping an property insurance a top view, from the angle of Bank, domestic trade insurance could be seen as a financing tool that can help banks to business credit for confirmation, but insurance companies still treat it as insurance products to sell, and bear the corresponding risks. To ping an insurance, for example, COFACE and its domestic insurance in cooperation began in 2003. Early due to a lack of understanding of the market and risk profile, both on the business of promoting the reasonably prudent since 2005, only began to carry out. Until 2010, the sudden growth of domestic insurance business 78%, reached $ 140 million. As of late in May this year, the types of insurance premium income had exceeded 150 million Yuan, more than total last year. "We spent 4 months of time to complete a year-long mandate, if uncontrolled, quadrupling is not an issue for the whole year. But companies should be controlled in the second half, after all, the types of insurance risk is relatively large. "Green a domestic insurance business manager said. A foreign credit insurance companies say blowout of the domestic insurance market on the one hand by the financial crisis, the State's policy is to support the expansion of domestic demand, promoting consumption; on the other hand, as the Bank this year adjustment credit policy, small and medium enterprises financing difficulty of widespread. Under a tight, banks still have to look for low-risk customers, together with the insurance company to promote, the domestic trade insurance as "such security" products, enlarge its financing capabilities. Ping an Bank under pledge of credit insurance and financing mode, is when the seller and the buyer arising from commodity exchanges after the successful cover domestic trade accounts receivable insurance, seller shall pledge of accounts receivable to the Bank, bank reference policy and has pledged the amount of the amount of the receivable financing products and services provided to the seller. Compared with the guarantee fee, domestic insurance rates are lower, typically only 5 per thousand per cent. If Bank lending rates to 6.5%, by insurance against domestic acquisition of loans, financing cost between 7% per cent. Policy subsidy boost market "many companies don't know countries for domestic trade insurance premium subsidy, when we informed the company, sign the Bill will greatly enhance the success rate of the domestic insurance. "According to preceding ping an property insurance. In fact, as early as two years ago the Ministry of Commerce has started to benefit the domestic insurance premiums. Turned "such security" financing domestic trade insurance according to the Ministry of commerce statistics blowout, in 2009 and 2010, the central financial accumulated expenditure domestic trade insurance premium subsidy funds $ 174 million, support enterprises to develop credit sales 218.7 billion yuan, total 1024 insurance companies obtained subsidies benefited more than 23,000 enterprises in the lower House. Recently, the market order of Commerce Secretary issued a circular clear of 2011 financing guarantee subsidy policy in China will continue to support commodity trading market, trading services place, high street shopping district of small and medium business enterprises, domestic insurance subsidy policies to increase agricultural trade title of insured benefits. Compared with the export credit insurance, domestic risk a late start, low awareness in the enterprise, now smaller. The Ministry of commerce statistics, 2009 China domestic trade insurance underwriting amount is less than 200 billion yuan, accounting for only domestic share of 1%. An interesting phenomenon is that before the financial crisis, protection of property, green property, casualty, commercial bodies frequently call for hope is currently limited to policy insurance company credit insurance company of China (hereinafter referred to as "CITIC") of short-term export credit insurance (hereinafter "short-term risks") open to commercial insurance company. "But with the outbreak of the financial crisis, the international situation changes, the most recent two years, similar voices a lot less, instead of speed raising on domestic insurance. "The foregoing insurance said. While CITIC's restructuring programme has yet to come, but on policy analysis, open to the domestic and foreign commercial institutions in the short term is a small possibility of short-term insurance, may be no choice but move back outside. Global trading volume is much larger than domestic trade, meant that domestic insurance business opportunities in the global market more, and foreign enterprises establishing credit system better, have a large number of global database for use by the query. By contrast, domestic trade rules still fuzzy, good faith basis is weak, these will increase the risk of domestic insurance. Domestic insurance blowout, peace a senior mixed feelings, "at present domestic insurance is not enough pricing power, management maturity. "The transformation of domestic insurance companies are brewing products, such as the provision of new combinations, expanding the fields of business, and so on.