Moody's sees risks for insurers
By Feng Jianmin |
June 28, 2013, Friday
|
Print Edition
Print Edition
China's life insurance sector will see a negative outlook beyond two years if they continue to rely on saving products for their income, according to Moody's Investors Service yesterday.
The narrow margin of savings products, which now make up the majority of the insurers' income, will be insufficient to cover rising business cost and uncertain investment returns, Sally Yim, vice president of Moody's told Shanghai Daily yesterday.
She pointed out insurance companies may face stiffer competition that will hurt their profitability.
"Insurers will need to enhance their products and distribution channels to grow premiums," Yim said.
The narrow margin of savings products, which now make up the majority of the insurers' income, will be insufficient to cover rising business cost and uncertain investment returns, Sally Yim, vice president of Moody's told Shanghai Daily yesterday.
She pointed out insurance companies may face stiffer competition that will hurt their profitability.
"Insurers will need to enhance their products and distribution channels to grow premiums," Yim said.
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