According to a number of media reports, the China Banking Regulatory Commission recently issued the Measures for the Supervision of Credit Insurance and Guarantee Insurance Business (Draft for Comment), and plans to comprehensively revise the Interim Measures for the Supervision of Credit Guarantee Insurance Business issued on 20 17 (hereinafter referred to as the Interim Measures).
Because China's personal credit information system has been in an imperfect state, lending institutions have shortcomings when issuing unsecured and unsecured credit loans. Credit guarantee insurance has become a means to provide borrowers with credit enhancement and help licensed financial institutions control the non-performing rate. The development of online consumer finance brought by residents' consumption growth has also brought new growth points to credit guarantee insurance, which is still growing rapidly at present. Many companies began to take the guarantee insurance business as an important business, such as Ping An, PICC, Sunshine, Dida and Zhongan. According to Bao Hui World, Ping An's premium income exceeds 30 billion yuan, accounting for half of the market. Accordingly, credit guarantee insurance not only brought new credit risks to insurance companies, but also caused some chaos, which was reported in the era of eliminating gold. In 20 17, China Banking Regulatory Commission issued the Interim Measures for the Supervision of Credit Insurance Business, and some contents of the Interim Measures were revised in the recently released opinion draft. In the era of elimination of gold, the relevant laws and regulations of consumer finance business are sorted out and interpreted: the classification of credit insurance business
The term "financing credit guarantee business" as mentioned in these Measures refers to the credit guarantee business in which insurance companies provide insurance protection for the debtor's performance credit risk in debt financing; Non-financing credit guarantee business refers to the credit guarantee business that insurance companies provide insurance protection for non-financing performance credit risks. The original draft divided the credit guarantee business into financing credit guarantee business and non-financing credit guarantee business. In consumer finance business, borrowers get loans through additional risks, so it belongs to financing credit guarantee business.
Improve the qualification requirements for insurance companies.
Article 4 (Qualification Requirements for Financing Credit Insurance Business) An insurance company engaged in financing credit insurance business shall meet the following requirements in addition to the provisions of Article 3: (1) The core solvency adequacy ratio at the end of the last two quarters shall not be less than 90%, and the comprehensive solvency adequacy ratio shall not be less than 65,438+0.80%; (2) The Head Office shall set up a management department specially responsible for credit insurance business, and establish a perfect organizational structure and a professional talent team; (3) Establishing a business operation system covering pre-insurance risk review and post-insurance monitoring management; It has a risk management and control system for independent examination and monitoring of the obligors, and is connected with the credit information system of the People's Bank of China; Personal financing credit insurance business underwritten through the Internet shall be centrally underwritten and controlled by the Head Office, and the data shall be connected with the business systems of financial institutions with legal lending qualifications; (4) Having a sound financial credit insurance business management system and operating procedures; Compared with the Interim Measures, the original version of the opinion draft puts forward higher requirements for the solvency of insurance companies and higher requirements for the qualification of financing credit insurance business.
The core solvency adequacy ratio of insurance companies engaged in financing credit insurance business is not less than 75%, and the comprehensive solvency adequacy ratio is not less than 150%, which is increased to 90% and 180%, and the time limit to be met is extended from the previous quarter to the last two quarters. Obtaining the credit information of the central bank is a new content. Because the insurance companies accessing the central bank's credit information need to have independent computer rooms, special personnel for control and safety management, at present, only a few insurance companies such as Ping An and Sunshine can access the central bank's credit information, while Internet insurance companies only have Zhongan. Access to the central bank's credit information will help reduce the audit cost and post-loan cost of the credit insurance business, improve the risk pricing level of the credit insurance business, and indirectly help inclusive finance.
(Independent Audit) An insurance company shall seriously investigate and closely follow the debtor's asset authenticity, transaction authenticity, solvency and credit history to prevent false fraud. When an insurance company conducts financing credit insurance business, it shall not outsource core business links such as risk review and risk monitoring to cooperative institutions, and shall not relax risk management and control because cooperative institutions provide risk countermeasures.
The original core risk control of the opinion draft shall not be outsourced, and it is still a familiar formula and taste. There are also many references in the full text that insurance companies "should establish a business operation system covering pre-insurance risk review and post-insurance monitoring management." It shows that insurance companies that want to do credit insurance business must have their own complete risk control ability, and credit insurance business must have a threshold. Article 5 (Underwriting Limit) The accumulated retained liabilities of the credit insurance business underwritten by an insurance company shall not exceed 10 times of the net assets at the end of last quarter. Among them, the accumulated retained liabilities of financing credit insurance business shall not exceed 4 times of the net assets at the end of last quarter (except franchised insurance companies). When the balance of loans underwriting small and micro enterprises in financing credit insurance business accounts for more than 40%, the upper limit of underwriting multiple can be increased to 6 times. The balance of retained liabilities insured by a single debtor and its related parties shall not exceed 5% of the net assets at the end of last quarter. Among them, the balance of retained liabilities of financing credit insurance business of a single debtor and its related parties does not exceed 65,438+0% of the net assets at the end of last quarter. If the financing credit insurance business is underwritten through the Internet, and the single performance obligor is a natural person, the balance of retained liabilities shall not exceed 200,000 yuan; If a single obligor is a legal person, the balance of retained liabilities shall not exceed 6,543,800 yuan. In the original opinion draft, the underwriting limit of financing credit insurance business (4 times) is lower than that of general credit insurance business (10 times). If a single borrower borrows from multiple Internet platforms and it happens to be underwritten by an insurance company, which exceeds the upper limit of the insurance company's debt balance, the loan may be restricted.
The C-end credit guarantee standard of P2P platform may disappear.
(Prohibited Behavior) (III) Opinion Draft on the Insured Underwriting Financing Credit Guarantee Business as a Natural Person Previously, some P2P online lending industries once attracted lenders by introducing credit guarantee insurance as the credit enhancement target. During the peak period, about 20 P2P platforms simultaneously launched credit guarantee insurance products.
However, with the decline of P2P industry and the existence of drawer contracts between some insurance companies and P2P companies, it is not a real risk control, which leads to the gradual exposure of risks. For example, China Property Insurance stepped on Lei Houben Finance, Tianan Property Insurance stepped on Fu Lei Butler, and Anxin Property Insurance stepped on Miller Tank Finance, which triggered a series of disputes. The policyholders of credit guarantee insurance are mostly lenders of P2P platform. The insurance policy shown in the following figure shows that "the borrower who enters into a personal loan contract with the insured is the insured" and "legally established financial institutions, small loan companies, commercial enterprises and natural persons can be the insured".
(Example of policy) It is reported that Xie Yiqun, vice president of PICC, said recently: "At present, the outstanding scale between Pleasant Loan and PICC is about 4 1 100 million yuan, and 900 million yuan has been paid out of the 654,380+0.2 billion premium; Jiufu's unexpired balance was 4.5 billion, and the premium of 900 million lost 300 million. "
Xie Yiqun said that the credit insurance business has changed, and the financing channels have changed from individuals in the past to financial institutions such as banks, so the risks of P2P have basically eased. If the opinion draft is finally implemented, the credit insurance standard of P2P platform will disappear.
Online loans need to be confirmed by the insurer.
Article 8 (Information Disclosure Requirements) When an insurance company conducts financing credit insurance business through the Internet, it shall disclose the insurance products, policy inquiry links, customer complaint channels, information security guarantee, cooperative Internet institutions and other contents in a prominent position in official website in accordance with the relevant provisions of Internet insurance business, and set up a separate interface to confirm the insurance intention. The insured will enter the insurance process after taking the initiative to confirm. At the same time, cooperative internet organizations are required to disclose the above information in a prominent position in their business. Internet institutions that cooperate with the original opinion draft need to disclose, and there is a separate interface of insurance willingness, which is confirmed by the insured. This clause aims to regulate the behavior of borrowers. Previously, there was a case in which Xiaojin Platform deducted the guaranteed insurance premium after lending without telling the borrower, which attracted the attention of the industry. Encourage cooperation with external data.
Article 18 (Data Docking and Confidentiality) Insurance companies are encouraged to dock data with third-party credit reporting agencies and various big data institutions on the premise of compliance with laws and regulations. An insurance company shall formulate a data confidentiality management system, and shall not disclose customer information, and shall not use the information provided by customers to engage in activities that have nothing to do with insurance business or harm the interests of the insured and the insured. The original text of the opinion draft Although the risk control big data company is at the forefront recently, as long as it is legal and compliant, the cooperation of lending business, credit insurance business and big data institutions is open.
The collection was mentioned twice.
(Prohibited Acts) Article 7 (7) There are violations of laws and regulations in carrying out collection and recovery by itself or outsourcing;
Article 24 (Recovery and Recovery) An insurance company shall carry out recovery and recovery according to laws and regulations. For outsourcing collection, the insurance company shall formulate business cooperation rules with the collection agency, clarify the rights and obligations of both parties, and strengthen the management of the business behavior of the collection agency. In the original opinion draft, there are frequent violent collection and chaos, and insurance companies should also pay attention to restraining their own and outsourcing institutions' behavior.
Some insurance companies suspend related businesses.
In fact, in addition to C-side borrowers borrowing to buy credit guarantee insurance, as a way to increase credit and borrow from financial institutions. The credit guarantee insurance business of insurance companies also appears in the process of cooperation between consumer finance platform and funders. Consumer financial platforms often need insurance blessing or financing guarantee companies to reach financial cooperation with financial institutions.
The release of this opinion draft puts forward higher requirements for the compliance operation of credit insurance business of insurance companies. An insurance industry insider told us that his on-the-job insurance company has suspended all insurance credit enhancement cooperation with the consumer finance platform. He believes that the landing speed of projects of various insurance institutions will be greatly reduced in the near future.
But generally speaking, the general direction of raising the threshold of credit insurance business, introducing norms and restricting institutions with insufficient capacity to enter the market is still to promote the healthy development of credit insurance business and help small and micro enterprises.