平安的教训  

Ping An's Lesson

作　　者：王春梅[1] 

机构地区：[1]《中国企业家》记者

出　　处：《中国企业家》2009年第1期34-35,14,共2页China Entrepreneur

摘　　要：靠不停降低保费来扩大规模,靠股东持续注钱以保证资本金和偿付充足率。Aggressive investment in bull market-business loss in bear market-solvency adequacy ratio severely low-big shareholders paying the bill and injecting the capital- such vicious cycle is what Ping An insurance-the second biggest life insurance company with the market share of 12.8% and the third properly insurance company with the market share of 10.7%-has experienced in the past two or three years. Ping An case also represents the common weakness among Chinese insurance industry:the loss of underwriting business leads to the eagerness for investment profit. If the investment return is amazingly huge in bull market,it will in turn stimulates the aggressive actions on underwriting,such as attracting more insurance policies by lowering insurance premium,with which more investment can be made.However,such logic is very risky:under the circumstances of profitable investment,such cycle works well,but once the investment fails,which joinet by the loss of underwriting business due to low price,there will surely be a disaster.

关 键 词：平安 海外收购 二级市场 富通银行 金融危机 荷兰银行 人民币 投资 

分 类 号：F426.471[经济管理—产业经济] F832.51