Investors are now betting that new business areas such as margin lending, corporate loan underwriting and securitisation will create fresh sources of profit. 投资者正在押注,新的业务领域(如保证金贷款、企业贷款承销和证券化)将创造新的利润来源。
And the main features of underwriting cycle are the seasonal changes of underwriting profit and premium rates. 承保周期源于保险供给与需求的周期性波动,它以承保利润、保险费率的周期性变化为主要特征。
Moreover, we have now operated at an underwriting profit for seven consecutive years. 我很有信心,在未来的大部分时间里,我们也将能保持承保盈利的骄人局面。
If our premiums exceed the total of our expenses and eventual losses, we register an underwriting profit that adds to the investment income that our float produces. 保费收入超过费用和可能的赔付损失的总额的部分,我们可以将它记录为我们的利润,同时,浮存金产生的投资收益也会加计到我们的利润中去。
If premiums exceed the total of expenses and eventual losses, we register an underwriting profit that adds to the investment income produced from the float. 如果公司收取的保险费用超过了最终赔偿及运营费用支出总额,那么我们除浮存金的投资收入外还获得了承保盈利收入。
Considering these strengths, I believe that we will earn an underwriting profit over the years and that our float will therefore cost us nothing. 考虑到这些优势,我相信在接下来数年里,保险业务依然可以保持盈利并且不需要为浮存金进行支付。
The belief spurred more mortgage underwriting because lenders assumed that borrowers living on the edge could always refinance or sell their homes for a profit if they ran into trouble. 这种信心带来了更多的按揭承销交易,因为贷款机构认为,如果捉襟见肘的借贷人陷入困境,总可以获得再融资或者卖房子获利。
After the test for effects on the pricing profit margin from underwriting profit margin and investment rate of return, it was concluded that the effect on pricing profit margin from underwriting profit margin was greater than the effect from investment rate of return. 用敏感性分析来测试承保利润率和投资收益率对定价利润因子的影响程度时,发现了承保利润率对定价利润因子的影响要大于投资收益率对定价利润因子的影响。
Investment profit has become the major income instead of underwriting profit; 第三,投资收益取代承保收益成为主要盈利途径;
Secondly, underwriting profit margin and investment rate of return were expounded in detail. 接下来对模型中的承保利润率和投资收益率是如何影响定价利润因子的分别进行了详细的介绍。
Though China insurance develops at very fast speed and the speed of premium is high, market competition is more intense, underwriting profit margin decreases gradually; 尽管中国保险业飞速发展,保费增长迅猛,但由于市场竞争激烈,承保利润率逐渐下降;
Therefore, when insurance companies determine the pricing profit margin, they should pay more attention to the influence from underwriting profit margin. 因此,产险公司根据承保利润率和投资收益率确定定价利润因子时,应该更加重视承保利润率对它的影响。
When the demand for the risk protection is greater than the capacity which insurers can offer, then it is a "hard market" and in this period, both investment return and underwriting income are resources of the profit for insurers. 当市场上的风险保障需求超过保险公司对风险保障承保能力的供给时,保险公司的承保业务与投资业务都是保险经营活动的主要利润来源;
Because the forest insurance underwriting profit become very low loss, even happen, so the insurance company should pay more attention to capital application, thus improving the investment income, become the insurance company compensate for losses and a profit of insured source. 由于森林保险承保利润变得很微薄,甚至发生亏损,所以保险公司应该更加重视资本运用,从而提高投资收益,成为保险公司弥补承保亏损和获得利润的来源。
The underwriting profit in property insurance company is also the corn business profit. 财产保险公司的承保利润即是其主营业务利润。
Although in modern business of insurance company, underwriting is the main source of funding, it is investment portfolio that is the key way of profit. 在现代保险公司的经营业务中,承保业务是拓宽资金来源的重要渠道,而投资业务则是主要的盈利途径。
In China, due to the property insurance industry initially started late, extensive operating; the underwriting profit is relatively small, or even negative. 我国财产保险公司由于起步较晚、经营方式过于粗放,承保利润较少,甚至多为亏损。
However, in reality, the underwriting profit is often negative, the main source of corporate profits is the return on investment. 但现实中,承保业务利润往往为负,公司利润主要的来源是投资收益。
The mature foreign market experience shows that, when the competition in insurance market is complete, and the underwriting profit is slight, the incentive for further development comes from the profit acquired from insurance funds use. 国外成熟保险市场经验显示,当保险市场竞争较为充分之后,承保业务利润已经非常微薄,保险业进一步发展的动力来自于保险资金运用所获得的利润。
The performance of the life insurance companies mainly depends on underwriting profits and investment income. In recent years, the premium rate is dropping down because of the competition of the market, which leads to the decline of the underwriting profit. 对于寿险公司而言,主要绩效来源于承保利润和投资收益,由于近年来中国金融业不断继续开放,保险市场激烈的竞争促使保险费率下降,承保利润随之下滑。