Shipping insurance firms in recent years are just passable performance. “The implementation of The Belt and Road” strategy into the international market, Chinese shipping insurance provides opportunities to break the bottleneck of development.
In recent years, China shipping insurance companies (shipping insurance firms) the performance of most at a loss or small profit level, and the shipping enterprise “,” Similarly afflicted people pity each other. hopes to “The Belt and Road” common strategy.
Offshore premium accounted for a small
In March 3rd, the Shanghai shipping insurance center, President of Peoples Insurance Company of China (PICC) executive vice president of the Maritime Arbitration Commission in Chinese falling stones, Shanghai branch, Shanghai shipping insurance association “The Belt and Road ‘strategy of shipping insurance and maritime legal services: opportunities and challenges” conference revealed that last year Chinese shipping insurance (hull insurance freight and insurance) the total premium income of more than 14 billion yuan. Data related to the International Union of marine insurance (IUMI) that China is now the world’s first ship ship insurance market, the second largest cargo insurance market.
Although the market scale of China’s shipping insurance premium in the world for increasing the proportion of larger, but the proportion in the whole of China insurance market is getting smaller and smaller. People’s insurance insurance legal department general manager Zou Zhihong said: PICC Property and casualty insurance premium scale in about 200 billion yuan, the marine insurance accounted for 1 / 10; now people’s insurance insurance premium scale for more than 2000 billion yuan, and marine insurance only 50 billion to 60 billion yuan, the accounted for proportion less than 3%. “
Pointed out the problems existed in the China Shipping insurance industry China Ping An Property Insurance Co., Ltd. (Ping An insurance property insurance claims department deputy general manager Huang Kaiying.
First, the competitive situation is increasingly grim. In recent years, more and more enterprises engaged in the main business of shipping insurance. Shipping insurance industry is faced with a huge business risk, a number of shipping insurance companies in recent years are in a loss or micro profit level.
Two is the business development in the bottleneck stage. Huang Kaiying said that from the shipping practice, logistics and freight forwarding industry international trade as an important part, of international trade has a important influence, but from the insurance industry, logistics and freight forwarding industry payment rate is high, most of the Chinese insurance companies reluctant to underwriting related industry. Insurance enterprises are commercial enterprises, if long-term profitability, will lead to a decline in the quality of related services. Although the various insurance companies have introduced logistics liability insurance, but such businesses are almost a loss.
From the point of view of marine insurance, the insurance of insurance in the international shipping insurance market is a necessary product of the mature ship insurer. Because of the risk of insurance coverage is larger, the Chinese insurance companies to carry out such business is not much. China in the protection and indemnity insurance business is in ship insurance and life insurance and premium scale also in the gradual growth, Ping An insurance recently has been to carry out the relevant business. Due to the characteristics of the product itself and the market competition in recent years, from the overall perspective, the loss of the ship’s insurance claims is very ineffective. Insurance and indemnity insurance product is very high, there are more and more customers have this demand, but the Chinese insurance companies are not underwriting profit space.
Three is the shipping insurance intermediary status is not clear. Huang Kaiying said that in recent years China Shipping insurance service network in strengthening, shipping insurance, brokers and agents and insurance assessor constitute the complete shipping insurance intermediary market, they for the promotion of the development of shipping insurance industry to very important role. British Shipping insurance industry development is very mature, they attach great importance to the construction of intermediary service system, whether the network or service management rules, in the world have a very strong international network support. But in China, at present the rights and obligations of shipping intermediary legal environment definition is not clear, ignoring the play an important role in the insurance intermediary institutions in the shipping market, especially the role of insurance broker companies and assessment companies. As a result, China Shipping insurance firms in the payment of compensation or recovery of the success rate is low.
Four is to protect the limited capacity. China’s re insurance industry is in its infancy, the degree of dependence on overseas reinsurance market is higher. Because of the long time that the ship insurance rate is lower than the international level, it is difficult to find the support of the international reinsurance, which has restricted the development of China’s shipping industry to a certain extent.
Five is the recognition of the market system is less than developed countries, which involves the issue of legal practice.
