| Risk-Based Capital is a main means of insurance supervision, the dissertation hopes to study it and try to discuss how to use it to supervise the solvency of our life insurance company. The dissertation consists of four chapters. Chapter one is general description of solvency supervision and Risk-Based Capital. First, the dissertation illustrates the necessity of insurance supervision. Second, it illustrates that the solvency supervision is the key of insurance supervision. Third, it introduces the origin of Risk-Based Capital from Agreement of Basel. Forth, the dissertation studies how National Association of Insurance Commissioners (NAIC) use RBC to supervise American insurance company in detail, including the development background, calculation formula, statutory program, RBC level and supervision activation. Chapter two studies the use of RBC. First, it's important to decide the risk factor, there are a few methods to do this, but Value-at-Risk (VaR) is the best, and it has been used widely by financial and supervision institution. Second, the USA is the first country to use RBC, so the dissertation studies their method to decide the risk factor and the factor of asset. Third, the dissertation practices the use of RBC by providing one life insurance company's data, calculating the risk capital, deciding the relative factor, analyzing correlative influence, drawing the RBC ratio. Finally the dissertation tries to evaluation RBC, everything has two sides, no excepting RBC. Even RBC can improve the early warning function and dynamic of insurance supervision, but it will play some negative effect when there are some problem in designing and implementation. Chapter three compares and studies the main solvency supervision modes in the world. There are two main supervision modes in the world, one is European union mode, the representative is England, and the other is North American mode, the representative is America. So the chapter compares the two modes, studies their difference, compares their virtues and shortcomings, it will help study the solvency supervision of our country. Chapter four is the keystone of the dissertation. It discusses how to use RBC in our state. First, it starts from our actual solvency supervision station, it is undeniable that we have make great achievement, but we must admit there is a long way to catch up with the national supervision level. Second, it discusses the necessity of implementation RBC. The first reason is RBC classifies the risks more minutely, and quantifies them by giving them a reasonable risk factor, so it can improve the effectiveness of supervision. The second reason is that the rapid development of our insurance market needs RBC. Our insurance market develop rapidly recently, for example, there are more insurance companies, insurance premium grows fast, furthermore, insurance capital investment policy has abolished some restriction, it means they can use their capital more freely and widely. It is a double-edged-sword, because insurance company faces more risk, supervision institution must try to help them keep away the risks, ensures the insurance can develop stability. The third reason is that RBC can enhance internal risk management level of insurance companies. Some insurance companies only focus on insurance premium before, and pay no attention to risk control. Now they must put stress on risk and risk management, make investment and financial policies carefully. Third,the dissertation discusses the train of thought to use RBC. Firstly, we should set up a dynamic and early warning supervision system, and pay more attention to the risk supervision. Secondly, RBC needs many relative supports, such as statutory accounting standards, perfect information system which we have much work to do. In addition,we need to study RBC, and accumulate relative data, analyze the kind of our insurancerisks. Finally, insurance company should pay attention to risk control and risk management, enhance their management level. Because the research in this field is quite new,... |
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