Category: Insurance tips Release Date: 2006-08-01
Insurance business sense Primary Dictionary (1) First, the "debt" assets "loss"
Chart of accounts classified as "liabilities", "asset" and "loss" three broad categories. "Liabilities category" reflects the money from? Is the own capital? Or to borrow or to meet a variety of outstanding funds? "Asset class" reflects the occupation or the use of funds raised in what areas? "Profit and Loss category" reflects the business generated revenue, and operating expenses in the process.
2, "premium income" and "insured savings"
"Premium income" is the insurance companies to take risks or responsibilities of external receive an income, there is no need to borrow is neither non-refundable and therefore are "profit and loss category" subjects. The "insured savings" is the insurance companies to borrow from the policy holders there is the need to return to policy holders, "principal", as the bank to depositors to absorb the deposits to the policy holders of insurance companies as a "liability", So are "debt category" subjects. Policyholder funds and so was willing to insurance companies, insurance companies first, both principal repayments, but also pay interest, and second, both the insurance nature of the unexpected when you can get insurance company pay the insurance. So, to absorb savings insurance policy holders in the hope that savings generated through the use of policy-holders a relatively high "interest income" or "investment income", and this "interest income" or "investment income" should be higher than that paid to depositors interest. Therefore, property insurance premium income and insured savings has a very different and can not be summarized into a business income.
Insurance business knowledge of a small dictionary (2) A long-term life insurance premiums
Revenues from long-term life insurance premiums and insured savings very similar, but also need to be returned to policy holders, "principal" must also be paid at full pay period of higher interest rates. Can be seen, long-term life insurance premiums is also a business income policy holders of a "debt", but it follows the international accounting practice, as a "profit and loss category" subjects, rather than as a "debt category" subjects.
Second, property insurance, credit insurance profit and loss calculation method
Property insurance business, the credit insurance business profit and loss calculation formula:
Profit and loss = premium income + other income - compensation expenses - charges expenses - operating expenses - a variety of business tax and surcharges ± deterioration of the reserve to mention - other expenses, investment gains and losses ± ± operating income,
Of which: (1) premium income, including personal accident insurance premiums as well as through interest income generated by insured savings into the figures.
(2) Other income includes recovery section income, deposit, loan interest income (transfer out of the use of insured savings generated by net interest income figures) and so on.
(3) award expenses, including absorption of insured savings on terms after the payment of insurance compensation.
3, operating expenses
Operating costs include: business promotion costs, prevention costs, business entertainment expenses, business management fees, depreciation of fixed assets, the holding and bad loan reserves, holding and accounts receivable bad debt reserves.
4, property and casualty insurance business unearned payments to mention deteriorating
Premium income at current book value of 50% of allowances, and at the same time last year the holding and the number of back. If a company achievement in a particular year of domestic premium income of 100 million yuan foreign-related business, premium income last year of 8,000 million yuan, while the holding and the number of 100 million yuan year × 50% +5000 million, back to last year the holding and the number of 8000 × 50 % = 40 million yuan had transferred difference of 50 million yuan -4,000 million = 10 million yuan.
5, credit insurance business to mention long-term liability reserve deterioration
As the responsibility of the credit risk of longer term, so a three-year accounting period, that is, each business year corresponds to three fiscal years. Of each business year of the first two in the corresponding fiscal year balance of financial income and expenses arising as a gain or loss is not, but as a long-term liability reserve allowances, and was back the following year until the corresponding end of the third fiscal year, and then clearing out of the business profit and loss in a particular year.
6, property insurance, credit insurance business had transferred outstanding loss reserve
Domestic and foreign business end of the year, when, according to accidents that have occurred have been reported the number of holding and outstanding loss reserves at the same time a few picture of the movements back to the previous year. Credit insurance business in the business year corresponds to the end of the third fiscal year, according to accidents that have occurred have been reported the number of outstanding loss reserves 90% of the holding and at the same time a few picture of the movements back to the previous year.
7, life insurance reserves had transferred the responsibility
At the end of each fiscal year, the business sector should be paid according to the year excluding surrender payment, full payment period, death and disability insurance payments as well as the policies in force after the scheduled interest rate, rates and mortality rates, calculated to cover the long-term life insurance business should the holding and the theory of responsibility for payment, and will be the holding and the number available to the accounting department, accounting department by a picture of the movements, and back next year. The holding and then the responsibility of life insurance reserves, the first picture of the movements should be the number back to the previous year.
8, life insurance business profit and loss calculation formula
Profit and loss = premium income + other income - surrender Kim - expired payment - death and injury insurance payments - charges expenses - Operating expenses ± life insurance reserve fund had transferred responsibility for poor investment gain or loss ± ± non-operating income
At present, the life insurance business has not been reflected gains or losses from the above formula to calculate the profit and loss into a life insurance reserve under the responsibility of the special reserve fund.
9, the insurance company's profit distribution method
Profits of insurance companies, you must pay income tax according to law.
Its after-tax corporate profits generally based on the following order:
(A) to make up for the loss of property confiscated to pay the taxes late fees and penalties.
(B) to make up for loss of business prior years. The loss means the loss of a particular year is used in the extension of five years after pre-tax profits to make up enough to make up the difference.
(C), extract the statutory surplus fund. Zhuanzeng capital or used to cover the deficit.
(D), extracting the Community Chest. Mainly for employees of enterprises of collective welfare facilities expenses.
(5), distribution of profits to investors.
People's Insurance Company's current income tax rate remained as high as 55%. Statutory surplus reserve fund, the Community Chest of the extraction ratio and the ratio of distribution of profits to investors or the specific amounts have yet to be clearly the Ministry of Finance. People's Insurance Company of investors central finance department.
10, the domestic non-life reinsurance business in several ways to play a People's Insurance Company of overall advantages, strengthen macro-control capacity of headquarters to meet the internal operating mechanisms at all levels of the company converted the needs of People's Insurance Corporation has a system-wide implementation of domestic non-life insurance the percentage of reinsurance business to do, approach is as follows:
(A) to the provinces, autonomous regions, municipalities, cities with independent planning offices and the Shenyang City Life Insurance Company (hereinafter referred to as the branch) as a unit, to head to the percentage of reinsurance.
(B), the branch will be the year of its domestic non-life business premiums of 20% of the points to the head office, head office at the same time sharing the various branches of their year 20% of domestic non-life business and the corresponding proportion of the indemnity costs.
11, the domestic non-life reinsurance business within the ultra-lose approach to
To stabilize the insurance business, decentralized catastrophe losses on the impact of the accounting classification of all branches and give full play to the overall advantages of Life Insurance Company, People's Insurance Corporation has a system-wide implementation of the non-life reinsurance business within the ultra-lose approach:
First, head for ultra-indemnity reinsurance accepted by persons from all provinces, autonomous regions, municipalities, cities with independent planning offices and the Shenyang City Life Insurance Company (hereinafter referred to as the branch) for ultra-indemnity reinsurance of the separation of person (separation of the company ). Separation of the company according to the agreement of its domestic non-life insurance premiums paid to reinsurance as part of the recipient, catastrophe losses occurred after the Company is contractually liable.
2, super indemnity reinsurance to take the voluntary principle. According to the following year, all branches of business development and risk prediction of over-subscription to the head office to protect.
Third, due to a major disaster Ershi annual payment rate of domestic non-life insurance business to achieve ultra-lose lose starting point of separation of the company can get ultra-lose guarantee corporation.
