不搞“内卷式竞争” 分红险分红水平被加强监管

Core Viewpoint - The Financial Regulatory Administration has issued a directive to life insurance companies regarding the regulation of dividend levels, emphasizing the need for companies to align their dividend levels with actual asset-liability and investment income situations, and to avoid excessive competition that disrupts market order [1] Regulatory Requirements - Insurance companies are required to scientifically and normatively determine the dividend levels for dividend insurance accounts, with specific conditions under which they must provide justification for proposed dividend levels [1] - Conditions include: - Proposed dividend levels exceeding the lower of the company's average financial investment return and comprehensive investment return over the past three years [1] - Negative special reserves in the dividend insurance account or projected negative reserves post-dividend implementation [1] - Proposed dividend levels for accounts established less than three years ago exceeding the life insurance industry's average financial return of 3.20% over the past three years [1] - Companies rated 1-3 must justify proposed dividend levels exceeding the industry average financial return of 3.20% [1] - Companies rated 4-5 must justify proposed dividend levels exceeding the product's predetermined interest rate [1] - Other situations deemed necessary for review by asset-liability management functions [1] Monitoring and Enforcement - The regulatory body will enhance data monitoring and will implement measures such as regulatory discussions, orders for rectification, and rating deductions for non-compliance with the requirements [1]