Whom insurance Enterprise bond before nearly billions in the next three years, or listing tide

&Amp;nbsp;   ⊙ reporter Yan Jian Huang leilei 0 Edit when you reach out to the shareholders for money no longer proven, issue subordinated debt financing to quench their thirst of the majority of insurance companies of "life-saving straw". According to reporter statistics, as of June 7, China insurance regulatory Commission approved a total of 6 insurance companies this year of not more than $ 9.05 billion subordinated debt-raising plans, bond scale level goes over the same period last year. However, the issuance of subordinated debt is only insurance company in case of financing channels are limited but move. The industry believes that, bonds is just a stopgap "Painkiller", but listed capital constraints of sustainable financing solution industry. Investment banking is expected over the next three years will usher in a wave of insurance company listed surge. 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 capital out if said 2010 capital out also just small insurance company of problem, so 2011 some large insurance enterprises also faced must of financing pressure. Open information display, protection casualty 5 billion yuan secondary debt plan just was insurance regulatory Commission approved, by raised funds for improve pay ability, as 2010 late the company pay ability adequate rate only for 115%, slightly higher than 100% of cordon; China Turbo (601,601, unit 's) a quarter has completed on Turbo production insurance of injection; 2010 end peace production insurance and life insurance of pay ability are in 180% near wandering, this year yilai peace production insurance premium growth far fast Yu Turbo, has investment bank to this projections peace production insurance also will faced supplementary capital of demand. Insurance companies ' operating properties and regulatory requirements determine the long-term needs of the insurance companies on the capital. Wen Chao said CITIC building investment analyst paid, insurance companies are heavily indebted enterprises, debt rate in 85% to more general, regulatory requirements so that insurance companies on capital consumption rate higher. "Because of the China insurance regulatory Commission required solvency ratios above to maintain 150%, therefore the minimum capital growth 1%, the actual capital to 50% in order to continue maintaining 150% over the minimum capital adequacy or solvency ratios are declining. "From the perspective of capital increase channels, existing financing include: financial capital injections (background of State-owned insurance companies), shareholders ' equity, subprime, listing and financing and profit into capital. Main non-listed insurance company increased capital to shareholders equity and subordinated debt issued, financing is limited. Investment banking statistics show that there is still a shortage of 4 insurance companies solvency, and another 6 insurance companies hovering near the cordon 100%. Subordinated debt is "Painkiller" when you are out of the capital, asking shareholders for money have become the first choice for non-listed insurance companies. Because this form of financing, high speed, low cost. However, not all success in the company to its shareholders for money, some insurance companies ' still lost money, it faced a shareholder dissatisfaction with frequent replenishment problem. Therefore, subordinated debt as their second choice. According to reporter statistics, as of June 7, China insurance regulatory Commission approved a total of 6 insurance companies this year of subordinated debt to raise plan, include: China life (300 million), the protection of property (5 billion), the Thai life insurance (450 million), Taikang (2 billion), a century of life (500 million), Hua-casualty (800 million). However, insurers, subordinated debt is only a stopgap "painkillers". CITIC building investment that "issuance of subordinated debt can only be resolved in the short term solvency problems, and could not be settled once and for all future 3-5 year solvency problems. "This is because the size of the issuance of subordinated debt subject to policy restrictions greatly, but also from the perspective of the existing market environment, subordinated debt issuance costs on the rise, primarily associated with interest rates and tighter monetary policies, resulting in a rise in financing costs. Therefore, resolve insurance company capital constraints is to open up the listing of the most fundamental financing channels, this is both good medicine. "Although listed only the Xinhua life insurance company of the year, but in fact have some insurance companies have to market conditions (profitability meets the requirements). "The industry believes that, in 2011 when is insurance supervision of solvency of important, for the increasing financing needs of insurance companies, with financing channels are limited, is expected in the next three years will meet with the insurance company listed heights.