The Development Of Life Insurance In Hongkong And Its Reference To Domestic Insurance

In recent years,with the widening of insurance scope of business at home and abroad,the domestic insurance industry development growth significantly.According to the latest statistics,in February 2017,the China insurance regulatory commission,by the end of 2016,the insurance industry realizes the original insurance premium income of 3.1 trillion yuan,up 27.5% from a year earlier.However along with the further deepening of reform and opening up,the domestic life insurance industry from overseas markets gradually permeate.The domestic life insurance industry is faced with severe situation and challenges.Especially since the 811 revaluation,the RMB continue to depreciate.According to Morgan Stanley estimates,in 2017,the RMB,or nearly 5% of depreciation.In such a situation,safeguard function,the dollar asset allocation function and the characteristic of the tax planning features,make Hong Kong life insurance become the domestic policy-holder chase high quality overseas investment targets.Hong Kong life insurance development has a long history and has relatively perfect regulation system,such as mainly reflected in the legislation of insurance company solvency requirements is low,strict market access system,for some illegal rose to the height of the criminal responsibility,and intermediary regulation from "self-discipline" to "heteronomy" regulatory focus,etc.In recent years,the Hong Kong insurance company starts a "joint venture","financial services group" insurance advanced development model,this model is highly dependent on bank and insurance company cooperation benefits the rational pursuit of "satisfaction".However,though clearly separate operation in financial development mode,banks in China have also started to buy life insurance companies.This phenomenon will gradually move closer to mixed management cooperation between Banks and insurance companies.For example,Bank of China acquisitions catic Samsung life insurance company.Through the analysis of this article,only further improve the legislative and regulatory system,strengthen the bank-insurance in-depth cooperation,to improve service levels,to make the product more simple and rich,can we adjust the domestic life insurance industry of the supply side of the base,and maintenance of domestic insurance market order.