Earthquake disaster in payment for the entire insurance industry is a huge challenge

China life (601628) CEO wanfeng yesterday (13) alleges that the company in Wenchuan County, Sichuan province have insured client 11.09 million, of which 5.8 million to students. The Sichuan earthquake disaster in the payment amount will be much higher than the amount of the payment at the beginning of snow. Wanfeng also said: the earthquake disaster in payment for the entire insurance industry is a huge challenge. But China life year 2000 billion in premium income, compensation funds will not be a problem.

Seismic performance of various insurance companies and are not the same. In rural areas has a broad market of China life think the Wenchuan earthquake disaster in the payment amount will be much higher than the amount of the payment at the beginning of snow; but ping an (601318 prices, share it) in charge of the call, the earthquake to ping an effect "of income may be limited."

The effect may be limited to Christmas:

May 13, 3 p.m., Wenchuan after the 25th hour, ping an is the first single paragraph 2 million claims submitted to the unfortunate victims of Chongqing customer Tang family hands. It is learnt that the customer purchases insurance for safe hongli, payment for the insurance of full payment. At the same time, peace endowment insurance Shanxi branch is actively contact associated sector gets the list of casualties, is currently working as a fracture injuries account for claims processing procedures.

As of the morning this dispatch, ping an life insurance computer system verification data display, Kitagawa, Wenchuan area total personal client ping an life insurance 1374, ping an life insurance is on the affected areas all customers pay a return visit.

China ping an insurance (Group) co., Ltd Mamingzhe in Shenzhen, China Ping'an on annual general meeting of shareholders, as an insurance salesman, companies often assess the impact of natural disasters on earnings; although this year the company profits will be affected, but he believed that this effect may be limited.

Yesterday, the China Ping'an due to suspension of the general meeting of shareholders.

China: the great challenge

And ping an insurance of a thousand people, covering China's vast rural areas of China life perhaps serious than imagined. According to Xinhua overseas financial reports, China's largest life insurance company — China life executives yesterday is expected, the Sichuan earthquake disaster in the payment amount will be much higher than the amount of the payment at the beginning of snow. According to the information displayed, as at 16 April this year, the insurance company pays claims for the snow up to the amount of approximately 43 billion.

China life CEO wanfeng in briefing held on that day, the company in Wenchuan County, Sichuan province have insured client 11.09 million, of which 5.8 million to students. However, it refused to disclose the customer covers the insured amount and the amount of expected payments.

But wanfeng also said: "the last mainly property payment, this is the type of payment. The earthquake disaster in payment for the entire insurance industry is a huge challenge. But China life year 2000 billion in premium income, compensation funds will not be a problem. ”

Yesterday, the China life A unit 4.73%, closing at $ 31.63; and H unit weizhang 1.53%, closing at $ 33.2.