投资未上市公司股权上限升至总资产10% Investment not listed companies to total assets of 10% equity limit

　　本报讯 保监会网站昨日发布消息，称为进一步规范保险资金投资股权和不动产行为，增强投资政策的可行性和有效性，防范投资风险，保障资产安全，日前发出了通知，放宽保险资金投资股权和不动产的有关限制。

Report from our correspondent circ website yesterday said in a news release，To further regulate insurance fund investment is called a stock and real estate behavior，Enhance the feasibility and effectiveness of the investment policy，Prevent investment risk，Security assets safe，Has issued the notice，Relaxing insurance fund investment in real estate equity and the relevant restriction。

　　在股权投资方面，通知在保持偿付能力充足率合规的前提下，适度降低投资门槛，扩大投资范围，提高投资比例，满足保险公司的投资需求。

In the equity investment，Notice the solvency ratios in keeping the compliance of the premise，Moderate reduce investment threshold，Expand investment range，Improve investment proportion，Meet the insurance company investment demand。

　　保险资金直接投资股权的范围，增加能源企业、资源企业和与保险业务相关的现代农业企业、新型商贸流通企业的股权，且该股权指向的标的企业应当符合国家宏观政策和产业政策，具有稳定的现金流和良好的经济效益。

Insurance fund direct investment equity range，Increase energy enterprise、Resources and insurance business enterprise and related to the modern agriculture enterprise、New circulation company of the equity，And the equity point to the subject matter of the enterprise shall be in conformity with the national macro policy and industrial policy，Has the stable cash flow and good economic benefit。

　　同时，通知还将保险资金投资未上市企业股权、股权投资基金等相关金融产品金额在总资产中的占比从5%上调至10%。

At the same time，Notice also will insurance capital investment not yet on the market enterprise equity、Equity funds and related financial products in the amount of total assets than rise to 10% from 5%。

　　根据通知，若保险公司投资未上市企业股权、股权投资基金等相关金融产品，可以自主确定投资方式，账面余额由两项合计不高于本公司上季末总资产的5%调整为10%。其中，账面余额不包含保险公司以自有资金直接投资的保险类企业股权。保险公司投资同一股权投资基金的账面余额，不高于该基金发行规模的20%；保险集团(控股)公司及其保险子公司，投资同一股权投资基金的账面余额，合计不高于该基金发行规模的60%，保险公司及其投资控股的保险机构比照执行。

According to the notice，If the insurance company investment not listed enterprise equity、Equity funds and related financial products，Can independently determine investment，Book balance by two aggregate is not higher than the 5% of the total assets of the season on the adjustment of 10%。Among them，Book balance does not contain insurance company with their own fund direct investment of insurance enterprise equity。The insurance company investment the same equity investment fund account balance，Not more than 20% of the scale of this fund to issue；Insurance group(holding)The company and its insurance subsidiary，Investment the same equity investment fund account balance，Total is not higher than this fund to issue the scale of 60%，Insurance companies and their investment holding insurance institutions mutatis mutandis execution。

　　在不动产投资方面，通知根据同质性原则，改进了基础设施与不动产金融产品投资比例的计算方法，增加保险公司的操作空间；结合宏观调控和市场发展需要，明确了保障房建设和养老项目有关事项，允许保险资金采用多种投资方式，支持国家重大民生和发展工程。

In the real estate investment，According to the principle of homogeneous notice，Improved infrastructure and real estate investment proportion of financial products calculation method，Increase the insurance company operating space；Combined with the macro regulation and market development needs，Clear the security room construction and endowment project relevant matters，Allow insurance fund USES the many kinds of investment，Major national people's livelihood support and development projects。

　　保险公司投资股权或者不动产，不再执行上一会计年度盈利的规定；上一会计年度净资产的基本要求，均调整为1亿元人民币；偿付能力充足率的基本要求，调整为上季度末偿付能力充足率不低于120%；开展投资后，偿付能力充足率低于120%的，应当及时调整投资策略，采取有效措施，控制相关风险。

The insurance company investment equity or real estate，No longer conduct in the last financial year profit rules；In the last financial year of the net assets of the basic requirements，Are adjusted for 100 million yuan；Solvency adequacy basic requirements，Adjusted for the quarter solvency adequacy ratio not less than 120%；After carry out investment，Solvency adequacy ratio of less than 120%，It shall timely adjust investment strategy，Take effective measures，Control related risk。

　　保险公司投资非自用性不动产、基础设施债权投资计划及不动产相关金融产品，可以自主确定投资标的，账面余额合计不高于本公司上季末总资产的20%。其中，投资非自用性不动产的账面余额，不高于本公司上季末总资产的15%；投资基础设施债权投资计划和不动产相关金融产品的账面余额，合计不高于本公司上季末总资产的20%。

The insurance company for real estate investment the sex、Infrastructure investment plan and real estate related claims financial products，Can independently determine investment targets，Total book balance is not higher than the company on 20% of the total assets of the season。Among them，The investment for the book balance of real estate，This company is not higher than the 15% of the total assets of the season；Investing in infrastructure investment plan and real estate related claims the book balance of the financial products，Total is not higher than the company on 20% of the total assets of the season。

　　保监会称，此举属适度放松投资政策，增加投资运作空间，有利于降低保险资金对资本市场的过度依赖，支持保险资金取得长期稳定收益，促进保险业务的健康和可持续发展。 记者 夏明月

Circ said，The move is appropriate relax investment policy，Increased investment operation space，To reduce insurance funds to the excessive dependence on capital market，Support has long-term stability of insurance capital gains，To promote the health of the insurance business and sustainable development。 Reporter XiaMingYue