中國(guo)證券報記者從(cong)接近監管層人士處(chu)獲悉，繼商(shang)業車險(xian)(xian)(xian)條款(kuan)費率制度改革意見(jian)于(yu)(yu)(yu)2月初公(gong)(gong)布(bu)后，萬(wan)能(neng)(neng)險(xian)(xian)(xian)費率制度改革方(fang)案有望于(yu)(yu)(yu)春節前發(fa)布(bu)。分(fen)析人士認為(wei)，隨(sui)著中國(guo)步入老齡化(hua)社(she)會(hui)預期加強，保(bao)障型壽險(xian)(xian)(xian)產(chan)品將(jiang)(jiang)迎來難得發(fa)展機遇，而壽險(xian)(xian)(xian)費率市場化(hua)改革可以提高(gao)其在市場上的(de)競爭(zheng)優勢(shi)，有助于(yu)(yu)(yu)保(bao)險(xian)(xian)(xian)公(gong)(gong)司優化(hua)業務結構(gou)。但(dan)從(cong)總體來看，保(bao)險(xian)(xian)(xian)公(gong)(gong)司的(de)產(chan)品策(ce)略將(jiang)(jiang)更加靈活(huo)，萬(wan)能(neng)(neng)險(xian)(xian)(xian)、分(fen)紅險(xian)(xian)(xian)費率在未來的(de)調整將(jiang)(jiang)導致保(bao)險(xian)(xian)(xian)公(gong)(gong)司投資能(neng)(neng)力承壓，對兩類保(bao)險(xian)(xian)(xian)業務占比較高(gao)的(de)公(gong)(gong)司影(ying)響會(hui)較為(wei)明(ming)顯(xian)。

萬能險(xian)費(fei)(fei)(fei)改有(you)望于(yu)春(chun)節前發布，成為2015年保(bao)監會定調(diao)車(che)險(xian)費(fei)(fei)(fei)改之后的(de)又(you)一項重大改革，使保(bao)險(xian)業的(de)費(fei)(fei)(fei)率(lv)市(shi)場化(hua)改革，從財(cai)險(xian)到壽險(xian)全面鋪(pu)開。但壽險(xian)費(fei)(fei)(fei)率(lv)市(shi)場化(hua)不能簡單等(deng)同(tong)于(yu)“費(fei)(fei)(fei)率(lv)自由化(hua)”，而監管層(ceng)在費(fei)(fei)(fei)改方(fang)案的(de)制定上也(ye)力(li)求考慮周全。

消息人(ren)士表(biao)示，在此次萬(wan)能(neng)險(xian)費(fei)改(gai)(gai)和后續分紅險(xian)費(fei)改(gai)(gai)方案的(de)(de)研判上，監管層(ceng)都注(zhu)重推(tui)(tui)動建立完善的(de)(de)保(bao)(bao)險(xian)市(shi)場(chang)規(gui)則(ze)，以(yi)營造(zao)公(gong)(gong)平的(de)(de)交易環境，在保(bao)(bao)證改(gai)(gai)革(ge)順利進(jin)行的(de)(de)同時(shi)穩(wen)步推(tui)(tui)進(jin)壽(shou)險(xian)業(ye)(ye)平穩(wen)過渡。該人(ren)士表(biao)示，萬(wan)能(neng)險(xian)、分紅險(xian)費(fei)率(lv)(lv)市(shi)場(chang)化，延續了保(bao)(bao)監會(hui)市(shi)場(chang)化改(gai)(gai)革(ge)思(si)路，將為壽(shou)險(xian)業(ye)(ye)未(wei)來重塑(su)發揮重要作用。雖然(ran)萬(wan)能(neng)險(xian)改(gai)(gai)革(ge)效果需要一段時(shi)間才能(neng)充(chong)分體現，但從總體來看，保(bao)(bao)險(xian)公(gong)(gong)司的(de)(de)產品策略將更(geng)加靈活。可以(yi)預期，萬(wan)能(neng)險(xian)、分紅險(xian)費(fei)率(lv)(lv)在未(wei)來的(de)(de)調整將導(dao)致(zhi)保(bao)(bao)險(xian)公(gong)(gong)司投(tou)資能(neng)力承(cheng)壓(ya)，對兩類(lei)保(bao)(bao)險(xian)業(ye)(ye)務占(zhan)比較(jiao)高(gao)的(de)(de)公(gong)(gong)司影響(xiang)會(hui)較(jiao)為明顯。

業內人士(shi)認為，作為投資(zi)型(xing)險(xian)(xian)(xian)種的萬能(neng)險(xian)(xian)(xian)、分紅險(xian)(xian)(xian)的費(fei)(fei)率市(shi)場化(hua)，其合同費(fei)(fei)率和(he)投資(zi)回報率均(jun)與(yu)市(shi)場接軌聯(lian)動(dong)，且在(zai)2015年，償二代的監(jian)管效應(ying)將進(jin)一步體現并(bing)加強，壽(shou)險(xian)(xian)(xian)費(fei)(fei)改后出現價(jia)格戰的情況是小概率事(shi)件。從成熟市(shi)場的經驗(yan)看，在(zai)推進(jin)壽(shou)險(xian)(xian)(xian)費(fei)(fei)率市(shi)場化(hua)的過(guo)程中(zhong)，監(jian)管層(ceng)應(ying)精算技術可發揮的作用，建立適應(ying)中(zhong)國(guo)國(guo)情的精算模(mo)型(xing)，并(bing)強化(hua)信(xin)息披(pi)露，加強對信(xin)息公開性和(he)透明(ming)度的監(jian)管。