發(fā)布時(shí)間：2018-11-26 09:41

【摘要】：保險(xiǎn)公司作為三大金融機(jī)構(gòu)之一,具有管理風(fēng)險(xiǎn)、穩(wěn)定經(jīng)濟(jì)的功能,在國民經(jīng)濟(jì)中發(fā)揮著舉足輕重的作用,相應(yīng)地,其自身抵御風(fēng)險(xiǎn)的能力也顯得尤為重要。償付能力是指防止保險(xiǎn)公司遭遇不利沖擊造成經(jīng)營中斷或失去償債的能力,也是保險(xiǎn)業(yè)監(jiān)管的重點(diǎn),世界主要國家和國際組織的保險(xiǎn)監(jiān)管機(jī)構(gòu)都在積極尋求償付能力監(jiān)管的新模式。無論是國際發(fā)達(dá)市場(chǎng)代表的美國、歐洲,還是我們亞洲的近鄰日本、韓國和新加坡,都在嘗試不斷優(yōu)化償付能力的管理體系。我國自2012年開始,在中國保監(jiān)會(huì)的組織下,開始研究第二代償付能力監(jiān)管體系,歷時(shí)三年,于2015年2月正式發(fā)布了中國第二代償付能力體系的17項(xiàng)具體規(guī)則,并要求各公司自文件發(fā)布之日起,正式對(duì)“償一代”和“償二代”規(guī)則并行實(shí)施。2016年1月,CIRC發(fā)布10號(hào)文件,宣布自2016年起正式實(shí)施中國風(fēng)險(xiǎn)導(dǎo)向的償付二代能力體系。償二代體系的正式實(shí)施,標(biāo)志著我國保險(xiǎn)監(jiān)管和保險(xiǎn)行業(yè)的風(fēng)險(xiǎn)管理要求進(jìn)入了新的時(shí)代。研究新體系下保險(xiǎn)公司償付能力具有重要的現(xiàn)實(shí)意義,可以據(jù)此提高我國財(cái)產(chǎn)保險(xiǎn)公司抵御風(fēng)險(xiǎn)能力,而財(cái)產(chǎn)保險(xiǎn)作為保險(xiǎn)業(yè)的重要部分,其增長速度較快,財(cái)險(xiǎn)保費(fèi)收入占總保費(fèi)收入的比例總體呈不斷上升趨勢(shì),因此對(duì)財(cái)險(xiǎn)公司償付能力分析的重要性不言而喻。本文對(duì)償二代體系下我國財(cái)產(chǎn)保險(xiǎn)公司的償付能力進(jìn)行了較為深入的分析。首先對(duì)償付能力的相關(guān)研究與理論進(jìn)行梳理并對(duì)償二代下我國財(cái)產(chǎn)保險(xiǎn)公司償付能力及監(jiān)管作出概述,介紹了償付能力的概念、影響因素以及衡量指標(biāo)等。然后,根據(jù)償二代監(jiān)管體系,對(duì)償付能力充足率的計(jì)算進(jìn)行簡化處理,測(cè)算出我國43家主要財(cái)產(chǎn)保險(xiǎn)公司的償付能力,并將其與償一代下進(jìn)行對(duì)比,發(fā)現(xiàn)償付能力充足率相比償一代總體上是下降的。之后,本文建立面板數(shù)據(jù)模型,分析償二代體系下償付能力的影響因素,結(jié)果表明,凈資產(chǎn)率NAR對(duì)財(cái)產(chǎn)保險(xiǎn)公司的償付能力正向影響最大,而衡量承保業(yè)務(wù)水平的賠付率與償付能力呈現(xiàn)最為顯著的負(fù)向關(guān)系。保險(xiǎn)投資水平IVR、經(jīng)營管理水平PPR以及公司市場(chǎng)規(guī)模MS等均對(duì)財(cái)產(chǎn)保險(xiǎn)公司償付能力起到正向作用。此外,在償二代下償付風(fēng)險(xiǎn)管理手段“再保分出”明顯失效,再保險(xiǎn)指標(biāo)RIR與償付能力呈現(xiàn)負(fù)向關(guān)系。進(jìn)一步研究發(fā)現(xiàn),償付能力影響因素對(duì)中、外財(cái)險(xiǎn)公司的作用存在較大差異。最后,根據(jù)研究結(jié)論提出相關(guān)建議。
[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.
【學(xué)位授予單位】：上海師范大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F842.3;F840.4

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本文編號(hào)：2358188