Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 3 (7 lettori)
- Creatore Discussione Joe Silver
- Data di Inizio
Joe Silver
Forumer storico
SRLEV 9% 112,8 - 113,4 un pensiero commosso ma anche un grande grazie a chi si è spaventato questa mattina
Sì, però credo che le turbolenze continueranno. Questi cinesi sono capaci di tutto: ci scommetterei che di occasioni ce ne saranno ancora.
Wallygo
Forumer storico
certo! potrebbe starci un ulteriore scossone ma ci vorrebbe qualcosa ancora di più forte che sinceramente non me lo auguro volendo cedolare in tranquillità
Joe Silver
Forumer storico
Lo spero anch'io
Intanto stavo osservando che questa mattina qualcuno dotato di sangue freddo (ed anche di un po' di
) si è preso 400k a 106: un discreto affaruccio!Joe Silver
Forumer storico
Per chi ha accesso a Moody's, c'è un report su Vivat datato 14 Giugno (ieri).
TheLondoner
Forumer storico
purtroppo è, ad ora, a pagamento.
Invece è uscita una nota della holding ...Vivat a questo link
Reaction on various (international) media reports about Anbang
VIVAT is an independent Dutch company, for that reason we cannot respond on the international media reports on behalf of Anbang. Our company has a solid reputation and a solid financial position. Per ultimo 2016, our solvency was 175% (Solvency II standard model). VIVAT is an independent entity subject to Dutch laws and regulations and is monitored by Dutch supervisory authorities. Our directors are subject to Dutch legislation and they act in the best interests of policy holders and other stakeholders. This means that the capital flows from the insurer to our shareholder (dividend, etc.) are subject to the strict rules of our regulator.
vbrm
Forumer attivo
Oggi le preoccupazioni su Anbag sembrano rivolgersi alla tenuta del sistema finanziario cinese, piuttosto che alle sorti di VIVAT.
Quoto dall'articolo del WSJ sotto: "Its premium income plunged 99% in April while its solvency ratio halved in the first quarter from the previous year."
How Anbang Could Clog China’s Financial Plumbing
WSJ - How Anbang Could Clog China’s Financial Plumbing
The acquisitive insurer is a key lender to other Chinese financial institutions
China’s decision to detain the chairman of Anbang Insurance Group, one of the country’s most acquisitive companies, is stunning in itself. The knock-on effects on the Chinese financial system could deepen the drama.
The initial focus since Wu Xiaohui’s detention has been on Anbang’s insurance business. Chinese regulators have told banks to reduce their dealings with the company, The Wall Street Journal has reported: In recent days many have slowed their marketing of Anbang investment products.
If customers of Anbang—owner of New York’s Waldorf Astoria hotel—start surrendering their policies and stop buying new ones, that could accelerate a continuing cash drain at the company. China’s insurance regulator has already been clamping down on the primary source of Anbang’s cash since late last year—short-term, high-yielding investment products disguised as insurance policies. Its premium income plunged 99% in April while its solvency ratio halved in the first quarter from the previous year.
Some investors have already wised up to the broader problems if the cash Anbang has used for its global spending spree dries up. The bonds of Dutch insurer Vivat, which Anbang bought in 2015, plummeted on Thursday.
But investors should also look hard at Anbang’s assets at home. The company’s tentacles reach far and deep into China’s financial system, with one key route being its lending of short-term funds into Chinese money markets.
Take its dealings with Chengdu Rural Commercial Bank, a provincial bank of which Anbang owns more than one-third, and which itself has some 40 subsidiaries across towns and villages in China. Anbang provides around 40% of the deposits for Chengdu Rural, and accounts for 80% of its related-party transactions, most of which are short-term, money-market loans. The bank also pays Anbang a high 5% interest on its deposits and holds some of Anbang’s debt.
Such tight relationships illustrate how financial stress at Anbang could quickly ripple through China’s banking system. Banks like Chengdu Rural have already become increasingly reliant on short-term wholesale funding and have been resorting to capital raises: The loss of a big cash provider like Anbang could cause real pain. Interbank funding conditions are already tight in China—the country’s central bank made its biggest one-day cash injection into the market in nearly six months on Friday. If the detention of Anbang’s chairman leads to the company stepping back more broadly from Chinese markets, the saga could have a while to run.
Quoto dall'articolo del WSJ sotto: "Its premium income plunged 99% in April while its solvency ratio halved in the first quarter from the previous year."
How Anbang Could Clog China’s Financial Plumbing
WSJ - How Anbang Could Clog China’s Financial Plumbing
The acquisitive insurer is a key lender to other Chinese financial institutions
China’s decision to detain the chairman of Anbang Insurance Group, one of the country’s most acquisitive companies, is stunning in itself. The knock-on effects on the Chinese financial system could deepen the drama.
The initial focus since Wu Xiaohui’s detention has been on Anbang’s insurance business. Chinese regulators have told banks to reduce their dealings with the company, The Wall Street Journal has reported: In recent days many have slowed their marketing of Anbang investment products.
If customers of Anbang—owner of New York’s Waldorf Astoria hotel—start surrendering their policies and stop buying new ones, that could accelerate a continuing cash drain at the company. China’s insurance regulator has already been clamping down on the primary source of Anbang’s cash since late last year—short-term, high-yielding investment products disguised as insurance policies. Its premium income plunged 99% in April while its solvency ratio halved in the first quarter from the previous year.
Some investors have already wised up to the broader problems if the cash Anbang has used for its global spending spree dries up. The bonds of Dutch insurer Vivat, which Anbang bought in 2015, plummeted on Thursday.
But investors should also look hard at Anbang’s assets at home. The company’s tentacles reach far and deep into China’s financial system, with one key route being its lending of short-term funds into Chinese money markets.
Take its dealings with Chengdu Rural Commercial Bank, a provincial bank of which Anbang owns more than one-third, and which itself has some 40 subsidiaries across towns and villages in China. Anbang provides around 40% of the deposits for Chengdu Rural, and accounts for 80% of its related-party transactions, most of which are short-term, money-market loans. The bank also pays Anbang a high 5% interest on its deposits and holds some of Anbang’s debt.
Such tight relationships illustrate how financial stress at Anbang could quickly ripple through China’s banking system. Banks like Chengdu Rural have already become increasingly reliant on short-term wholesale funding and have been resorting to capital raises: The loss of a big cash provider like Anbang could cause real pain. Interbank funding conditions are already tight in China—the country’s central bank made its biggest one-day cash injection into the market in nearly six months on Friday. If the detention of Anbang’s chairman leads to the company stepping back more broadly from Chinese markets, the saga could have a while to run.
claudioborghi
Twitter: @borghi_claudio
Oggi mi sono separato (per comperare un immobile) di uno degli ultimi reperti storici di perpetual nel mio portafoglio. Le immaginifiche ING NL0000116127 Che nemmeno più mi ricordo quando le comprai ma forse risalgono al 2009. Nello stesso momento mi hanno rimborsato le leggendarie Munich Re 5,767, queste sì comperate nel 2009 e uno dei migliori investimenti di sempre. Mi rimangono solo più le generali e le brit insurance in sterline. Approfitto per salutarvi! 
ciao onorevoleOggi mi sono separato (per comperare un immobile) di uno degli ultimi reperti storici di perpetual nel mio portafoglio. Le immaginifiche ING NL0000116127 Che nemmeno più mi ricordo quando le comprai ma forse risalgono al 2009. Nello stesso momento mi hanno rimborsato le leggendarie Munich Re 5,767, queste sì comperate nel 2009 e uno dei migliori investimenti di sempre. Mi rimangono solo più le generali e le brit insurance in sterline. Approfitto per salutarvi!
bulogna
Forumer storico
Un caro salutoOggi mi sono separato (per comperare un immobile) di uno degli ultimi reperti storici di perpetual nel mio portafoglio. Le immaginifiche ING NL0000116127 Che nemmeno più mi ricordo quando le comprai ma forse risalgono al 2009. Nello stesso momento mi hanno rimborsato le leggendarie Munich Re 5,767, queste sì comperate nel 2009 e uno dei migliori investimenti di sempre. Mi rimangono solo più le generali e le brit insurance in sterline. Approfitto per salutarvi!