为偿付能力“加固” 保险资本补充新招频出

Core Viewpoint - The insurance industry is exploring new methods for capital replenishment to enhance capital strength and meet solvency requirements [3][4]. Group 1: Capital Replenishment Methods - China Ping An plans to issue approximately HKD 11.765 billion zero-coupon H-share convertible bonds maturing in 2030, with proceeds aimed at business development, capital replenishment, and general purposes [3]. - Smaller insurance companies are utilizing capital reserves to increase registered capital, with Jin Tai Insurance and Ding He Property Insurance planning to issue shares and convert capital reserves to registered capital, respectively [3]. - As of June 9, 11 insurance companies have issued bonds totaling CNY 49.6 billion in 2023, indicating a strong demand for capital among insurers [3]. Group 2: Regulatory Support and Market Outlook - Regulatory bodies are implementing measures to enhance counter-cyclical adjustments, optimizing solvency supervision requirements and encouraging capital replenishment through various channels [4]. - The industry anticipates continued high demand for capital replenishment, primarily through the issuance of capital supplement bonds and perpetual bonds in the short term [4]. - Large insurance companies are expected to explore new financing methods, while smaller firms need to improve business quality to match capital efficiency, indicating sustained high levels of capital replenishment across the industry [4].