Dynamic Financial Analysis Of Insurance Companies

As future development trend of Asset- Liabilities-Management (ALM) Technology of insurance company, Dynamic Financial Analysis (DFA) can not only be competent for comprehensive and holistic forecasting task of insurance company's operation and financial status, but also can help national insurance industry build the most preliminary, and probably the most effective financial risk forewarning system, by dynamically scrutinizing assets and liabilities conditions changes of insurance company. All study tasks in these research fields are imbued with challenges and enthusiasm, however they are still a virgin soil in our country, which give me the very impulsion to explore the mystery.The main framework of this dissertation is as the following. The first chapter is Introduction, which sets forth the conceptive construction of my dissertation, the main contents of my research, and its study meaning.The second chapter is the background introduction, which makes brief history review of the origin and development of DFA's ideas. Based on so much relative literature, this chapter makes detailed analysis of development course of ALM technology, and expounds the instructive meanings of DFA's application in insurance company risk management.The third chapter is the study of DFA modeling, which probes into such research fields as modeling components in DFA model, applicability of scenario analysis and stochastic simulation, building structure of DFA model, and how to use the Dynamo 3.0 DFA software, etc.The fourth chapter discusses the application of DFA in financial management fields, especially in financial forecasting, of our country's insurance companies. In this part, the author makes detailed argumentations to support, and has definitely put forward, the academic viewpoint which is that future listing insurance companies of our country can choose DFA as their framework of forecasting financial information disclosure system. And in this chapter, the author also introduces some experiences of financial management in North American insurance company.The fifth chapter is the application discussion of DFA in solvency management of our country's insurance company. From two important aspects of insurance company's solvency management, the author expounds in details the application and its value of DFA in Capital Management, Asset Liabilities Management, and Reinsurance Planning. The author also puts forward his own viewpoint, which DFA can help national insurance industry construct valid forewarning system against financial risk, and can cooperate with current solvency regulation ratio system too. The author also introduces some solvency regulation experience in America and Australia in this chapter.The last par of the dissertation, namely Chapter Six, is the summary conclusion of foregoing research.