The Research On Diversification Of China's Insurance Group

In recent years,China's financial industry after the mixed operation,sub-business process after repeated twists and turns,by the domestic capital market policy support,China's financial market spontaneous drive and foreign developed economic development inspiration,has entered the mixed business explosive growth On the eve of.China's insurance group occupies an important position in the insurance industry,the insurance group's premium income for many years can reach 70%of the industry's total premium income,large old insurance group,such as China Life Group,PICC Group has long covered the traditional insurance industry,Line,with the insurance industry continues to increase,increasingly competitive,insurance groups in the insurance industry seems to have entered the bottleneck of the development.Financial mixed operation will undoubtedly become the insurance group out of the insurance industry,to diversify into a comprehensive financial golden opportunity.Based on the data of 10 insurance groups and 9 categories of insurance groups from 2007 to 2015,this paper uses the fixed effect model to find out that there are diversified groups in China's insurance groups.Premium,in the control of the asset size,fixed asset investment,staff salaries,asset-liability ratio and other variables,the degree of diversification will promote the level of group asset yield,confirmed the diversification of China's insurance groups,set up to operate different lines of financial business Subsidiaries can gain more profit points and gain a higher return on assets through economies of scale and economies of range.From the perspective of cost analysis,after controlling the operating income,asset-liability ratio and other variables,the diversification strategy will promote the Group's comprehensive cost rate to enhance the insurance group's diversification early,due to the lack of professional management of new business management,Management and operation,will result in the decline in operational efficiency.Diversification involves the establishment of new subsidiaries,the new company pre-operation,in the market cultivation period,the company needs a lot of investment,the high rate of fees.This chapter is divided into four parts:The first chapter is the introduction,which mainly introduces the research background and significance of the article,combing the relevant research theory at home and abroad,the main research methods adopted in this paper,and the brief introduction of the structure frame and main content of this paper The second part mainly introduces the theoretical basis of the diversification of insurance group,the theory is divided into two parts,the first part is the insurance group theory,define the connotation of insurance group,the theoretical basis of insurance group and its diversified development practice course;This paper expounds the connotation and classification of the diversification of the group,combs the driving factors of the diversification of the group and analyzes the drawbacks of the diversification of the group from the theoretical level.The third chapter is the empirical study on the diversified performance of the insurance group The This paper mainly uses the panel data to establish the fixed effect model,and uses the multiple regression analysis method to study the impact of the diversification of the insurance group and the insurance group on the performance of the company.The regression analysis method is used to study the diversification degree of the insurance group,The impact of the overall cost rate.The fourth chapter gives the conclusion and the research prospect.Gives the conclusion of the text,combined with the conclusions of the diversification of China's insurance group to make recommendations,and pointed out that the follow-up research direction.