Southern Commercial Bank's territory is in the south, and it also has a branch in the imperial capital that is second only to the head office in terms of status and power in the system. Bellito was also in the imperial capital at this time, in this branch.
In the past, many people were afraid of the three-guarantee policy, which was obviously a money-losing policy, and ignored the actual benefits of the insurance business in making money. When the two major banks represented by Bellito and Taylor noticed that each other was focusing on this, the two major Practical economists and financial experts, including some very famous professors in academia, have begun to participate in the analysis and summary of the insurance business. They have also built many mathematical and economic models to verify the results of their analysis.
The results are very promising. It seems that all students who participated in the tuition insurance have a high probability of going to college. For this reason, they have collected insurance fees that may be less than 200 yuan over the years, but they have to pay these insured people when they go to college. A tuition fee of several thousand yuan is obviously a very uneconomical business from a purely numerical perspective, indicating a huge loss. In the same way, for other insurance businesses, such as medical and accident insurance, the insured person's annual expenditure of twenty or thirty yuan is not much, but once they enter the hospital, it is a huge compensation.
It ranges from a few hundred yuan to several thousand yuan. This is why many people were not optimistic about the three-guarantee policy and the insurance industry at that time, because the uncontrollable risks were too great, and a powerful company could be destroyed by accident. Become a thing of the past overnight.
According to the mathematician's algorithm, this is indeed very dangerous, but if these numbers are brought into the economic environment, it seems not so scary.
Twenty years ago, a gentleman had a deposit of ten yuan, which was enough for him to buy a house in a slightly backward city. However, he put the money in the bank and saved it to provide for his son or grandson when they grow up. Used to buy a house.
Today, twenty years later, the interest earned on this money in the bank has become 40 yuan, which has doubled four times, doubling every five years on average. But now forty yuan, let alone buying a house, is enough for a family to live for a month.
Why is this happening
Under the influence of commodity circulation and the general economic environment, the rate of currency devaluation will continue to reduce the actual value of the currency's face value at a very stable rate until a ten-dollar note is equivalent to one dollar in the past. , not even as good as.
But there are some things that will not change with currency depreciation, and that is the value of the commodity itself. Ten years ago, it cost only two cents to buy a loaf of bread. Today, ten years later, it costs twenty cents to buy a loaf of bread. The value of the bread has not changed, but the value of the currency has. Applying it to the economic model, if you use the current money to buy something that can "preserve value", you will get more "paper money" benefits many years later.
If this alone cannot bring any benefits beyond people's expectations for the insurance business, so the insurance companies, or the current economic think tanks in the two major industries, after many days and nights, finally found the key Key, the key to opening the door to wealth—agreement.
From the first second the insured pays the insurance premium, the agreement comes into effect. In this agreement, the insurance company will use content that looks very affordable from "current eyes" to make the insured think that the insurance he purchased is It's worth it, as long as you buy it, you'll make a lot of money. After all, the agreement says in white and black, once any of the conditions listed in the policy occur, they will compensate compensation ranging from 50 yuan to 5,000 yuan.
But they calculated that from the first premium period to the last payment, they might only have to pay less than fifty yuan in premiums, but they could get a return of up to a hundred times, which was a huge profit!
But if you look at this policy ten years or more later, even if the insured has an accident that requires compensation under the policy, or triggers any compensation agreement, they will find that in their view, they were The insurance they had made so much money turned out to be useless. Even if they received the highest compensation of 5,000 yuan in the agreement, the 5,000 yuan at this time might not even be able to buy a coffin lid!
So did the insurance company make money
Of course they made money. After receiving the premium, they immediately exchanged the currency that represents purchasing power for actual commodities, that is, the purchasing power was cashed in. This behavior can be regarded as a kind of investment. Except for those that have failed, these investments will not only not depreciate but also continue to appreciate, and are polarized with the continuously depreciating currency. Ten years later, the purchasing power of the same currency has been severely reduced due to depreciation, inflation, etc., but they had already cashed in their purchasing power ten years ago. Their profits were higher than their losses, and they outperformed hippie love.
When they need to pay the insurance premiums that need to be settled, what they pay to the insured is not the purchasing power that was cashed in that year, but the currency that has been severely devalued. In the past, this money was equivalent to a hundred times the premium, but now, they It may only be worth a premium, or even less.
There is also the redemption of purchasing power in the second year, and the redemption of purchases in the third year... So the two major banks came to the conclusion that insurance companies will definitely make money, and they will still make a lot of money, much more than banks!
Therefore, the two major banks attach great importance to the insurance business. Bellito, a bank shareholder who actively participated in the entire process and could even be said to have developed the insurance business, was sent to the Imperial Capital to continue closing the door of the diamond mine with Taylor. Prevent their money from being taken away by others.
After the Chamber of Commerce's approval came out, not only the Imperial Bank of China had a copy, but Bellito also had a copy. After reading all the approval documents, he breathed a sigh of relief. The matter was finally settled. Although there were many surprises in this process, such as Du Lin's rush to buy up the insurance policies, and the local wealthy Westerners also participated in the rush to buy up the policies, for example, even the Imperial Bank of China participated in this business activity of dividing the victory cake, but In the end he won - partially.
This can already make him very satisfied. Stealing food from the Imperial Central Bank has greatly increased his reputation within the Southern Commercial Bank. Many people think this is a very encouraging thing. Now they also know that before Bellito got the news, the Imperial Central Bank had actually reached a series of deals with the cabinet and went to the west to prepare to take over the big trouble left by Memnon. They were the "third party". This is a great victory.
Now that the approval document has been issued, the process still needs to be followed. The first step is to determine the organization and member list of the self-discipline committee, and then jointly announce this fact to all walks of life with the Chamber of Commerce. Then you can talk to Du Lin. The policy in his hand was bought back, and they were not worried at all that Du Lin would not nod because he did not have the standards to enter the insurance industry. Even if he has it, his standards are not high enough due to the interference of the Insurance Industry Self-Regulatory Commission.
To this end, the two major banks held the founding meeting of the Insurance Industry Self-Discipline Committee on the third floor of the Gloria Hotel, a hotel with high political and commercial significance. In addition to Bellito, Taylor and the seven retail investors, there were also some "enthusiastic people" from society participating, such as people from the Southern Commercial Bank and the Imperial Bank of China.
It is natural that such an important meeting should be held with a high standard. The committee preparatory team not only occupied the entire third floor, but also invited nearly a hundred journalists and newspapers, as well as some real "enthusiasts" from all walks of life to support the event.
"The meeting will be held in fifteen minutes. See if there is anything missing." Taylor stood on the rostrum of the conference hall, looked at the rows of seats and name cards below, and asked.
Bellito was standing next to him. He shook his head, smiled and stretched out his hand to Taylor, "I think it's perfect. Congratulations, Mr. Taylor. I heard that the Central Bank Board of Directors nominated you to be an insurance company." The first executive director?”
The corners of Taylor's mouth raised slightly, which scratched his itch. He didn't expect that the council would give him such a big stage and power. This was indeed the happiest time for him in the past few days. He wished everyone could come. Just ask once.
He smiled modestly and nodded, "In the future, I will need your cooperation, Mr. Bellito, in my work."
Bellito also smiled and said a few nice words, cooperate
It is impossible to cooperate. It is impossible to cooperate in this life. The Southern Commercial Bank and the Imperial Bank will always be two hostile camps. It may be more pleasant to say they are fighting.
At the same time, Dulin stood in front of the first villa on the First Avenue of the Empire, saying goodbye to Magus's wife with a smile, holding a small gift box filled with pancakes in his hand. Although Mags never said that the pancakes were not delicious, the wife who often found the "carcasses" of pancakes in the trash had long known that Mags was not interested in pancakes. Women, especially women like her, are actually not suitable for doing anything, because no matter what she does, people will think that this may be a signal for Magus to release. She can only stay quietly at home, not even socializing. All must be reduced.
Now her only pleasure is cooking, making some snacks and the like to give to relatives or visitors. She is very fond of this young man Du Lin who likes to eat his own pancakes. It is like getting someone else in his career. Of course.
After Dulin's visit this time, he also took the initiative to take some pancakes away, which made Magus's wife very happy and even saw him off personally.
"Madam, please stop..." Du Lin, who was standing outside the yard, declined Maggs' wife's idea of seeing her off for a while, thanked her again and left voluntarily. After walking out of First Avenue, he threw the gift box into the trash can, then got into the car where he had been waiting for a long time, "Go to Cailemen!"
When someone reported this matter to Mags, Mags laughed and called him a "bastard" without any expression. He knew very well that Du Lin's purpose was very simple, to make his wife happy, which happened to be what he wanted to do, so why did he punish Du Lin? Because Dooling put a smile on his wife's face
He kicked the trash can under his feet, and the pancake corpses inside were hidden in the darkness.
(End of chapter)