? Insurance asset management company is the abbreviation of insurance asset management company, which is a financial institution specializing in insurance fund management. The main business is to manage the insurance funds entrusted by insurance companies, with the goal of maintaining and increasing the value of insurance funds. Insurance asset management companies are generally established by insurance companies or their controlling shareholders. After accepting the entrustment, an insurance asset management company may manage and use the insurance funds of shareholders or the funds of insurance companies controlled by shareholders, and may also manage and use its own funds. However, the use of insurance funds shall not exceed the provisions of the Insurance Law, and shall be limited to bank deposits, buying and selling government bonds, financial bonds and other forms stipulated by the State Council. Moreover, the asset management company shall not promise not to lose the entrusted funds or guarantee the minimum income, shall not use the entrusted insurance funds to seek benefits for a third party other than the client, and shall not manipulate funds from different sources for transactions. This is the regulation of the state and regulatory authorities on insurance asset management companies.

China's insurance asset management industry has developed rapidly, especially with the implementation of 20 18 new asset management regulations, the reform of insurance fund utilization system has been further deepened. As an important asset management subsidiary, insurance asset management companies have entered a period of rapid development, competing with asset management institutions such as Public Offering of Fund, securities companies, bank wealth management and trust companies. Insurance asset management companies can not only manage the assets of shareholders or parent companies, the insurance funds of small and medium-sized insurance companies, but also manage the assets of third parties. Such as pension funds, mutual funds, enterprise annuities, especially the gradual expansion of the scale of third-party asset management, reflects the gradual development of the business scope and system of insurance asset management institutions in China. According to relevant statistics, by the end of 2020, a total of 35 insurance asset management institutions managed insurance funds of 2 1 trillion yuan, with a year-on-year growth rate of over 19%. The main sources of income are entrusted fund management fees and management fees for issuing asset management products, which have continued to grow rapidly. In 2020, management fees and other income totaled 32,654.38 billion yuan, a year-on-year increase of 27%.

? Understand some basic information about insurance asset management companies, and how do insurance asset management companies operate?

The investment operation of insurance asset management institutions is mainly to manage the allocation of funds, generally focusing on bonds, and then considering financial products. A set of figures can show that by the end of 2020, the scale of funds invested in bond assets, financial products and bank deposits managed by insurance asset management institutions was 8. 12 trillion, 3.85 trillion and 2.78 trillion respectively, accounting for 38%, 18% and 13% of the total investment scale respectively, and the total was close to 70. Financial products usually include but are not limited to debt investment plans, collective fund trust plans, wealth management products of commercial banks, credit asset-backed securities, special asset management plans of securities companies and project asset support plans. The investment scale of insurance asset management in portfolio products is also very large, and the investment scale has exceeded one trillion. In the allocation of large-scale assets, insurance asset management companies also have unique competitive advantages in fixed income and alternative investment by using their own professional capabilities. The main business forms of insurance asset management are special account business and portfolio products, so insurance asset management companies will be divided into non-standard teams, portfolio products teams and equity investment teams. Under the background of large asset management, portfolio asset management products are very important asset categories, which can reflect the management level of asset management companies to a great extent and really support the country's real economy.

Although China's insurance asset management institutions developed late, they made rapid progress, especially in the use of long-term funds such as insurance funds, which can provide personalized asset management services. They have relatively rich investment experience in fixed income, quasi-fixed income and other fields, and gradually become a more mature carrier for insurance funds to serve the real economy. However, compared with foreign mature insurance asset management institutions, our source of funds is still relatively single, our product competitiveness is not enough, and our comprehensive investment ability is also insufficient. In the future, we should give full play to our advantages, actively expand tripartite business and enhance our comprehensive strength. Fully improve the investment portfolio and alternative investment products, and build diversified professional investment capabilities as soon as possible.