Accounted for 71.5%.Xinhua insurance renewal premium more obvious “ballast stone” effect

2022-05-26 0 By

On the afternoon of March 30, Xinhua Insurance held the 2021 annual performance conference, attended by Li Quan, party Secretary, CEO and president, and the management.The data showed that The original insurance premium income of Xinhua Insurance in 2021 was about 163.5 billion yuan, up 2.5 percent year on year.The business structure remained sound, and the renewal premium reached nearly 116.9 billion yuan, accounting for 71.5% of the total premium, which has always been the “ballast stone” driving the scale of growth.The proportion of long-term insurance premium in the first year was 53.1%;The first year premiums of traditional and dividend long-term insurance accounted for 79.5% of the first year premiums of long-term insurance, up 6 percentage points compared with the previous year.The proportion of the first year premium of long-term health insurance to the first year premium of long-term insurance is 20.5%;The embedded value was about $258.8 billion, up 7.6% from the end of last year.In 2021, the COVID-19 pandemic continued to spread, shaking international financial markets and impacting the global insurance industry.In the face of pressure and challenges, Xinhua Insurance insists on returning to the origin of insurance, giving full play to the function of insurance protection, actively responding to the needs of customers, and constantly enriching the security product system of long-term savings insurance, health insurance, endowment insurance and medical insurance.Li Quan, secretary of the Party Committee, CEO and president of Xinhua Insurance, said that the core channels achieved multiple breakthroughs in 2021.The premium of each insurance channel reached 18.479 billion yuan in the first year, consolidated the market position, and comprehensively improved the quality of the team under the guidance of youth, specialization and urbanization.The bank insurance channel took the lead in breaking the ice, and the term premium, value and first-year premium all realized positive growth. The first-year premium of long-term insurance increased by 26.7% year-on-year, accounting for 15% of the market share, up 2.3 percentage points year-on-year.Group channels adhere to the business direction of “taking short-term insurance as the core”, and the premium income of short-term insurance is 2.567 billion yuan, with a year-on-year increase of 11.8%.In 2022, Facing the complex and severe external situation, Xinhua Insurance will continue to adhere to the theme of high-quality development.In business development, we should highlight value, give consideration to scale, strengthen value management, maintain steady growth of business scale, focus on delivery business development, and lay a solid foundation for long-term development.Basis at the same time, to improve the company’s management level, continue to strengthen the management benefit orientation, we will accelerate reform of the exploration of marketing system, further strengthen product innovation, focus on improving the quality of the team, business quality, production efficiency, strengthen the risk prevention and control, for the company to achieve higher quality, more efficiency and more sustainable long-term steady development to lay a solid foundation.⑯ Persons Statement: This article is reproduced for the purpose of transmitting more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: