gaplus| Dajia Property and Casualty Insurance received two consecutive fines in one week. Last year, it lost 345 million yuan in net profit, and its comprehensive risk rating rose to BB.
On April 7, according to the Lujin fine (2024) No. 12, a public form of administrative penalty information published by the Shandong Regulatory Administration of the State Financial Supervision and Administration, for compiling false financial information, Jinan Branch of everyone property Insurance Co., Ltd. was fined 250000 yuan by Shandong Regulatory Administration of the State Financial Supervision and Administration.
On April 1, the Liaoyuan Center Branch of Jilin Branch of everyone property Insurance Co., Ltd. was fined 220000 yuan by the Liaoyuan Regulatory Branch of the State Financial Supervision and Administration for inflating expenses. Chen Zhigang, deputy general manager of the branch company at that time, was given a warning and fined 40, 000 yuan.
According to public information, everyone property Insurance was established on August 28, 2019, headquartered in Shenzhen, with a registered capital of 4 billion yuan, and was established solely by your Insurance Group Co., Ltd., and the actual controller is China Insurance Protection Fund Co., Ltd. At the end of January this year, everyone Insurance released the solvency reports of its two subsidiaries, property Insurance and Old-age Insurance. This is the first time that everyone Insurance has publicly released its business report since taking over the related business of Anbang Insurance in 2019.
According to the report, everyone's property insurance business income was 85% in 2023.Gaplus03 million yuan, with a net profit of 345 million yuan. Behind the loss is the high comprehensive cost rate of property insurance. It is reported that as of the fourth quarter of 2023, the comprehensive cost rate was 105.04%, the comprehensive expense rate was 42.76%, and the comprehensive compensation rate was 62.29%.
In terms of main business, in 2023, the signing premium of property insurance is 6.178 billion yuan, and the signing premium of the top five non-auto insurance is 1.05 billion yuan. By the end of the fourth quarter of 2023, the return on net assets was-12.11%, the return on total assets was-2.5%, the return on investment was 0.31%, and the comprehensive rate of return on investment was 1.63%.
From the perspective of solvency, both the core solvency adequacy ratio and the comprehensive solvency adequacy ratio of property insurance are 248.49%. The latest comprehensive risk rating result is BB, which is higher than level B in the previous quarter.
SourceGaplusYan Shu Teachers College
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