“报行合一”再细化！人身险产品费用：精算师协会发分摊指引，4类费用可不分摊，手续费佣金等直接认定...

Core Viewpoint - The China Actuarial Association has issued guidelines for the allocation of expenses related to life insurance products, aiming to clarify expense recognition and allocation in line with the "report and act as one" principle [5][9][33]. Group 1: Expense Allocation Guidelines - The guidelines categorize expenses into two main types: variable and fixed, with channel expenses and agent commissions classified as variable [12][16]. - Four categories of expenses are specified as non-allocable, including asset management department expenses and audit fees [19][21]. - The principle of "recognize first, then allocate" is emphasized, requiring direct recognition of fees such as commissions, with specific allocation requirements for channel and annual expenses [22][24]. Group 2: Implementation of "Report and Act as One" - Since the first "report and act as one" document was issued in August 2023, insurance companies are required to report the total available expense level [7][33]. - The guidelines aim to enhance expense management standards across the industry, providing a unified framework for insurance companies to follow [11][35]. - The association plans to conduct training sessions to promote awareness of the importance of detailed expense management within the industry [35][38]. Group 3: Impact on the Insurance Industry - The implementation of "report and act as one" has led to significant cost reduction and efficiency improvements across the insurance sector [33][34]. - Companies like China Life and PICC have reported enhanced new business value and improved cost structures as a result of these measures [34][35]. - The guidelines are part of a broader trend towards high-quality development in the insurance industry, focusing on precise management and regulatory compliance [38][39].