Study On The Development Of Bancassurance Under The Financial Holding Mode In China

As a product of channel innovation,product innovation,service innovation,system innovation and organizational model innovation,bancassurance has experienced rapid development since its emergence,which has promoted the continuous integration of banking and insurance industry.The development mode of bancassurance mainly includes two kinds,one is to maintain the development mode of the relationship between the two parties through the agreement and the contract,including the agreement agent mode and the strategic alliance mode;With the deepening of the bank insurance integration,the bancassurance started the equity integration,banks and insurance companies are linked through equity bond,and the joint venture mode and financial holding model emerged.Among them,the financial holding mode makes the bank and the insurance company to fuse the deepest pattern,under this model,the bank and the insurer can realize the scale economy,the scope economy and the synergy effect more fully,the financial holding group can achieve a degree of risk dispersion through diversified operations.But the model also has the different risk with the single financial institution.As China gradually liberalizes the financial industry's mixed business operations,forming a financial holding group through bancassurance mergers and acquisitions to achieve a mixed operation of the banking industry and the insurance industry will be an important model for the development of China's future bancassurance.Therefore,this paper focuses on analyzing the benefits and risks in the development of bancassurance under the financial holding mode in China,and puts forward countermeasures and suggestions for promoting the development of bancassurance under the financial holding mode.This paper on the basis of carding domestic and foreign literature summary,combined with the institutional change theory discusses the bancassurance comes in,Through the portfolio theory explained the risk dispersion effect of the bancassurance integrated operation using the theory of scale economy,scope economy and synergy effect analysis the economic benefit of Bancassurance,briefly illustrates the different mode,advantage and disadvantage of bancassurance development,and connecting with the transaction cost theory proves that with the development of bancassurance degree and scale of business promotion,the development of bancassurance models tend to adopt financial holdings mode.Then financial holding mode of our country bancassurance development present situation carries on the analysis,combined with the simulation method to our country financial holding mode of bancassurance risk earnings empirical research;The empirical results show that commercial banks ' mixed operation through merger and acquisition of insurance companies has the risk diversification effect.But there is a certain proportion of commercial banks' acquisition of insurance companies.Finally to countermeasures and suggestions,and promote the financial holding mode of sustained and healthy development of bancassurance shall adhere to the banking business as the core,attach importance to both banks and insurance companies culture,technology and resources integration,strengthen internal control and information disclosure,and risk at the group level set in the "firewall" to prevent internal risk transfer.