我国财产保险公司盈利模式的实证研究——基于杜邦分析方法

An Empirical Study of the Profit Model for Property Insurance Company in China——based on DuPont Analysis Method

本文利用杜邦分析体系,通过2007-2011年财产险公司财务数据的分析,分析评价了现阶段我国财产保险公司的盈利模式,并提出了财产险公司盈利模式的改善方向。我们发现,我国财产险公司盈利状况不平衡,不同规模的保险公司盈利模式各有千秋,外资财产险公司在全行业对比中,盈利情况普遍不佳。此外,财产险行业对投资业务过于依赖,盈利波动过大,因此需要平衡承保和投资的天平,走专业化经营之路。

Through the analysis of financial data of property insurance companies in 2007-2011 with DuPont analysis method,the article analyzes and evaluates the current profit model of China's property insurance companies,and presents the improvement direction for the profit model.We find that there is an imbalance in the profitability of China's property insurance companies.Insurance companies with different sizes have various profit models.Foreign property insurance companies have poor profitability in the entire industry comparison.In addition,the property insurance industry is excessively dependent on investment business,leading to the high volatility in earnings,so it's necessary to balance the underwriting and investment,and take the path of professional operation.