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Study on the Solvency Supervision of Property Insurance Companies in China

Author: BinJing
Tutor: LanHong
School: Southwestern University of Finance and Economics
Course: Insurance
Keywords: Property and Casualty Insurance Company Solvency Solvency
CLC: F224
Type: Master's thesis
Year: 2009
Downloads: 234
Quote: 0
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Abstract

The solvency of insurance companies at any time, the ability of the insurance company to fulfill its obligations under all of its contracts, it reflects a relationship between the assets and liabilities of the insurance company. Solvency' dissertation">Solvency is essential for the healthy functioning of the insurance company, in the event of solvency crisis, not only the insurance company can not maintain normal operations, the insured or the insured's interests threatened or damage, and might be interested in the national economy normal operation and social stability generated a huge role in the destruction. Solvency regulation of insurance companies has become the important goals of the state regulation of the insurance industry, but also the core of its regulatory content. Solvency, market conduct regulatory and corporate governance structure is the three pillars of the International Association of Insurance Regulatory modern insurance regulators. Property insurance and life insurance business of business, management and supervision of different analysis and study of the P \u0026 C insurance company solvency regulation. Domestic insurance company solvency regulation experienced from scratch, the gradual development of a comprehensive process: 1995 years ago, the People's Bank of China is responsible for the supervision of the insurance industry, mainly regulatory market behavior, rarely comes to regulatory solvency; From 1995 to 2003, both market conduct regulation and solvency regulation; solvency for regulatory core, specific provisions for the introduction of a solvency regulation and a range of actuarial and accounting preparation and reporting rules and practical guide to established since 2003. The CIRC promulgated in July 2008, the insurance company solvency regulations established international convergence, dynamic risk-based solvency regulatory framework to provide a complete solvency regulatory mechanism, clearly classified regulatory requirements. However, the theoretical models of the current solvency regulation fixed ratio model, draw on the instructions of the first generation of the EU's Solvency regulatory index is to learn from the U.S. insurance regulatory information system indicators. The use of these methods and indicators must be consistent with the development of China's property insurance, must pass the test of practice. Therefore, based on the actual development of China's property insurance, improve and perfect the system of property and casualty insurance company solvency regulation, has become an important topic of China's insurance regulators. In this paper, a concept based on the definition of solvency and solvency regulation from insurance companies face the risk Zhaobi analyze the factors that affect the property and casualty insurance company solvency, and describes the practical application of various theoretical models and national solvency regulation specific analyzed the current situation of our country at this stage property insurance company solvency regulation and the reasonableness of the use of empirical test analysis of a number of historical data set of minimum solvency margin and regulatory indicators introduced and analyzed on the basis of the improved property and casualty insurance company set minimum solvency margin calculation and regulatory indicators, and proposed the introduction of new methods of risk-based capital and improve the the solvency regulatory regime system - to strengthen internal control and risk management of insurance companies and the establishment of the system of credit ratings of insurance companies recommendations. The paper is divided into four parts: the first part is the introduction, mainly on the thesis writing background, research status and thesis research methods. The second part is the practical application of the regulatory solvency and solvency, as well as theoretical model and the countries. This section first introduces the concept of cause and mode of concepts and influencing factors of solvency, solvency regulation. Then a brief introduction and evaluation the solvency regulation theory of three types of four models: the fixed ratio method, the risk-based capital, dynamic financial analysis model and the Swiss non-life insurance company solvency test model as well as the actual use. This part focuses on two aspects: influencing factors of solvency of insurance companies, which is the basis of the analysis of solvency regulation theory modeling; introduction of Solvency theoretical models, this analysis of the article behind our property and casualty insurance company solvency regulation lay the theoretical basis of information and reference. The third part of the status quo of China's property insurance company solvency regulation and problem analysis. This is part of the first review of the historical development of China's insurance company solvency regulation. Then analyzes the status quo of China's property insurance company solvency regulation, including the normal level of regulatory solvency margin regulation, financial regulatory indicators, as well as recognition of assets, recognized by the relevant provisions of the liabilities and liability reserve escrow solvency. Finally, problems and lack of analysis, including the analysis of the problems in the theoretical level; insurance companies in 2003-2006 historical data on the minimum solvency margin ratio under the fixed ratio method empirical analysis of inspection solvency regulation indicators of historical data the empirical regression testing and early warning in the case of joint property insurance of specific companies insolvent analysis. The fourth part of recommendations to improve our property and casualty insurance company solvency regulatory system. First, the existing property and casualty insurance company solvency regulatory system improvements, including the settlement of the solvency margin requirements and responsibilities reserve escrow contradictions, amendments to the minimum solvency margin calculated indicators the regulatory index system improvements. Second, due to the current fixed ratio method exists lack the basic framework, the introduction of the proposed risk-based capital of the United States to calculate the minimum solvency margin. Finally, drawing on the basis of the three-pillar structure of the EU Solvency II proposals: to improve the solvency regulatory system in China to strengthen the establishment of the insurance company's internal control and risk management, and credit rating system. Property insurance company solvency regulation is a very complex issue, can be examined from different angles, such as considering various business from actuarial liability reserve escrow and the theoretical model of the minimum solvency margin; from the insurance accounting inspect property insurance company solvency regulation reasonable and effective analysis of financial indicators and solvency statements are prepared to discuss the establishment of the regulatory regime of the property and casualty insurance company solvency and perfect; Institutional Economics. Text innovation lies in the basis of the theoretical model, the use of the 2003-2006 insurance Yearbook various Insurance companies balance sheet and income statement data processing and finishing, the specific values ??of the minimum solvency margin of the property and casualty insurance company in the empirical test fixed ratio method and reasonable regulatory index, has a certain reference value. This article there is a certain lack of, for example, the theoretical level, the analysis of the current solvency regulatory system may not sufficiently comprehensive, empirical test results Insurance Yearbook data there may be some distortion, resulting in error.

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