我国保险公司并购银行的思考

A Reflection on Chinese Insurers Acquiring Banks

在国内外保险巨头的率先示范、综合化经营的冲动、银行业利润高增长的诱惑和管理层不断松绑的背景下,我国保险公司并购银行本应呈现出多点开花的局面。然而,因受安联集团并购银行失败阴影,不看好平安保险并购银行言论和海内外看空、做空中资银行股势头的影响,迄今除平安保险以外,再难觅保险公司并购银行的成功案例。本文运用对比分析的方法,得出的主要研究结论是:安联集团并购银行失败的覆辙并非不可避免;平安保险并购银行的绩效足可以消除业内的诸多疑虑;现时中国保险公司并购银行的需求比当年的平安保险更迫切;未来中国保险公司并购银行取得成功的可能性比当年的平安保险更大。

Under the domestic and international insurance giants＇ setting an example, the impulse for integrated operation, the lure of high profit growth of the banking sector and the background of continued deregulation, the phe- nomenon of Chinese insurers acquiring banks should have blossomed. However, due to the Allianz Group＇ s failure in acquiring a bank, negative opinions on Ping An＇ s M＆A deal for a bank, and bearish markets at home and abroad for bank stocks, no other successful M＆A deals for banks can be found among Chinese insurers after the example of Ping An. This article applied the method of comparative analysis, and the main conclusions drawn from the analysis were ： （ 1 ） Allianz Group＇ s M ＆A failure could be avoided ; （2） Ping An＇ s performance at bank M ＆ A was e- nough to eliminate many of the industry＇ s concerns ; （3） the current demand of the China＇ s insurance industry for acquiring banks was more urgent than that of Ping An had been; （4） looking forwards, Chinese insurers could be more successful in bank M＆A transaction than Ping An.