引导“长钱长投” 财政部发布险企长周期考核新规

Core Points - The Ministry of Finance has issued a notice to guide state-owned commercial insurance companies towards long-term stable investments and to enhance the assessment of their operational efficiency over longer periods [1][2] - The notice adjusts the evaluation metrics for return on equity (ROE) and capital preservation and appreciation rates, incorporating a five-year assessment alongside annual and three-year metrics [1][2] Group 1: Adjustments in Assessment Metrics - The return on equity (ROE) assessment will now include annual, three-year, and five-year metrics with respective weights of 30%, 50%, and 20% [1] - The capital preservation and appreciation rate will also shift to include annual, three-year, and five-year metrics, maintaining the same weight distribution [1] Group 2: Investment Management and Strategy - State-owned commercial insurance companies are required to enhance asset-liability management, focusing on matching the structure, cost-benefit, and cash flow of assets and liabilities [2] - The companies should prioritize stable operations, long-term investments, and value investments while improving internal assessment mechanisms and investment portfolio management [2] - There is an emphasis on identifying high-quality investment targets that offer stable returns and potential for appreciation, thereby supporting the high-quality development of the real economy [2] Group 3: Policy Context and Trends - Recent policies have been aimed at addressing the "long money short investment" phenomenon, with a focus on long-term performance assessments for state-owned insurance companies [3] - The implementation plan from various financial authorities emphasizes a long-cycle assessment of at least three years for the performance of state-owned insurance companies, with a significant weight on longer-term metrics [3]