偿二代体系下我国财产保险公司偿付能力的研究

发布时间：2018-11-26 09:41

【摘要】：保险公司作为三大金融机构之一,具有管理风险、稳定经济的功能,在国民经济中发挥着举足轻重的作用,相应地,其自身抵御风险的能力也显得尤为重要。偿付能力是指防止保险公司遭遇不利冲击造成经营中断或失去偿债的能力,也是保险业监管的重点,世界主要国家和国际组织的保险监管机构都在积极寻求偿付能力监管的新模式。无论是国际发达市场代表的美国、欧洲,还是我们亚洲的近邻日本、韩国和新加坡,都在尝试不断优化偿付能力的管理体系。我国自2012年开始,在中国保监会的组织下,开始研究第二代偿付能力监管体系,历时三年,于2015年2月正式发布了中国第二代偿付能力体系的17项具体规则,并要求各公司自文件发布之日起,正式对“偿一代”和“偿二代”规则并行实施。2016年1月,CIRC发布10号文件,宣布自2016年起正式实施中国风险导向的偿付二代能力体系。偿二代体系的正式实施,标志着我国保险监管和保险行业的风险管理要求进入了新的时代。研究新体系下保险公司偿付能力具有重要的现实意义,可以据此提高我国财产保险公司抵御风险能力,而财产保险作为保险业的重要部分,其增长速度较快,财险保费收入占总保费收入的比例总体呈不断上升趋势,因此对财险公司偿付能力分析的重要性不言而喻。本文对偿二代体系下我国财产保险公司的偿付能力进行了较为深入的分析。首先对偿付能力的相关研究与理论进行梳理并对偿二代下我国财产保险公司偿付能力及监管作出概述,介绍了偿付能力的概念、影响因素以及衡量指标等。然后,根据偿二代监管体系,对偿付能力充足率的计算进行简化处理,测算出我国43家主要财产保险公司的偿付能力,并将其与偿一代下进行对比,发现偿付能力充足率相比偿一代总体上是下降的。之后,本文建立面板数据模型,分析偿二代体系下偿付能力的影响因素,结果表明,净资产率NAR对财产保险公司的偿付能力正向影响最大,而衡量承保业务水平的赔付率与偿付能力呈现最为显著的负向关系。保险投资水平IVR、经营管理水平PPR以及公司市场规模MS等均对财产保险公司偿付能力起到正向作用。此外,在偿二代下偿付风险管理手段“再保分出”明显失效,再保险指标RIR与偿付能力呈现负向关系。进一步研究发现,偿付能力影响因素对中、外财险公司的作用存在较大差异。最后,根据研究结论提出相关建议。
[Abstract]:As one of the three major financial institutions, insurance companies have the function of managing risks and stabilizing the economy, which plays an important role in the national economy. Accordingly, its ability to resist risks is particularly important. Solvency refers to the ability to prevent an insurance company from suffering adverse shocks, resulting in interruption of operations or loss of solvency, and is also the focus of insurance supervision. Insurance regulators in major countries and international organizations are actively seeking new models of solvency regulation. Both the United States, Europe, and our neighbors in Asia, Japan, South Korea and Singapore, are trying to optimize solvency management systems. Since 2012, under the organization of the China Insurance Regulatory Commission, China has begun to study the second-generation solvency supervision system, which lasted three years and officially issued 17 specific rules of the second-generation solvency system in February 2015. Companies are required to formally implement the "compensation generation" and the "second generation" rules from the date of release of the documents. In January 2016, CIRC issued document 10, announcing the implementation of China's risk-oriented solvency system for the second generation starting in 2016. The implementation of the second generation system marks a new era for insurance supervision and risk management in China. It is of great practical significance to study the solvency of insurance companies under the new system, which can improve the ability of property insurance companies to resist risks. As an important part of the insurance industry, property insurance has a rapid growth rate. The proportion of the insurance premium income to the total premium income is on the whole rising, so the importance of analyzing the solvency of the property insurance company is self-evident. This paper makes a deep analysis of the solvency of Chinese property insurance companies under the two-generation system. First of all, the related research and theory of solvency are combed, and the solvency and supervision of property insurance companies in China under the second generation are summarized, and the concept of solvency, influencing factors and measuring indexes are introduced. Then, according to the second generation supervision system, the calculation of solvency adequacy ratio is simplified, and the solvency of 43 major property insurance companies in China is calculated and compared with the compensation generation. The solvency adequacy ratio was found to be generally lower than that of the reimbursable generation. Then, the panel data model is established to analyze the influencing factors of solvency under the second-generation system. The results show that the net asset ratio (NAR) has the greatest positive impact on the solvency of property insurance companies. And the most significant negative relationship between the payoff rate and solvency is measured the level of underwriting business. Insurance investment level IVR, management level PPR and market size MS all play a positive role in the solvency of property insurance companies. In addition, the reinsurance risk management means "reinsurance out" is obviously invalid in the second generation, and the reinsurance index (RIR) has a negative relationship with solvency. Further study shows that the effect of solvency factors on Chinese and foreign property insurance companies is quite different. Finally, according to the conclusions of the study, the relevant recommendations are put forward.
【学位授予单位】：上海师范大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F842.3;F840.4

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