Analysis Of Insurance Group Solvency Regulation

Since the last century 80 years, because of market competition, technological advances and the change of regulatory models, the international insurance industry, the group embarked on the path of development, In our case, since the restoration of the insurance industry,China’s insurance sector has made considerable progress.Now there are eight insurance group in the insurance market, such as China Life, Ping An Insurance Group. Whether Insurance Groups’market share or industry profit contribution rate more than 80%, becoming the backbone of China’s insurance market.However, since the U.S. subprime mortgage crisis, the international insurance group solvency deficiencies have appeared in trouble, even bankruptcy. So I will insurance group solvency regulation as a thesis subject, the main researches include:The first chapter describes the definition of insurance groups and insurance group business organization model. Details of the European Union, the Basel Committee, the International Securities Regulatory Officer Association and the International Association of Insurance Supervisors and other authorities on the definition of financial and insurance group, combined with the reality in China’s Insurance Group presented the concept of this definition. Detailed the IAIS insurance group business model on the three categories, at the last analysis of the organizational structure of insurance group problems.The second chapter describes the insurance group face special risks. Insurance Group’s capital-depth study of the risk of double counting, double counting of capital principle mechanism; the risk of intra-group transactions and the related potential impact on solvency; Group internal risk transfer and transmission and transparent organizational structure and concentration risks.The third chapter discusses the current international insurance group solvency supervision theory and practical experience. Highlight the EU’s insurance group solvency regulatory system, the Joint Forum on Financial Group regulatory theory, and IAIS interpretation of the solvency of the insurance group under the three-pillar model. And summarizes the existing insurance group solvency regulatory system characteristics:focus on the quantitative regulation, capital adequacy ratio is the core position in insurance group solvency solvency regulation; Group solvency regulation increasing the role of quality control, such as the strengthening of major relevance Transaction monitoring, audit management positions and other staff cells; Group solvency effective information disclosure system has not proposed, the existing regulatory system is a major shortcoming.Chapter IV describes the reforming of solvency regulatory system about the European Union,IAIS Solvency and the U.S. European Union around the solvency II conducted a series of group solvency reforms, such as introduced in the three-pillar model, emphasizing the quality of supervision and information disclosure system, while the calculation of solvency ratios emphasis on risk-based internal model Construction; IAIS is around the International Active Insurance Group launched the reform of solvency regulation, detailing the reform of framework of the international active insurance group solvency:the scope, group organizations and business, qualitative and quantitative requirements, regulatory cooperation and Interaction, implementation modalities; Finally, introduce the U.S. insurance group solvency regulation issues, the NAIC has established a special working group of insurance group solvency to study the capital assessment, exchange of information between regulators and cooperation, and research Society’s role in the regulatory system and other issues. From the three organizations and the country’s reform ideas, we can easily find some useful information:such as emphasis on risk-based regulatory philosophy, emphasizing the role of qualitative supervision, emphasizing the use of regulatory capital in the economy, stressed the solvency of information disclosure and reporting system.Chapter V focuses on the solvency of insurance groups supervision trends. First introduced the insurance group solvency system, and its analysis and evaluation, then find out regulatory system of insurance group solvency deficiency. According to the reform trends of international insurance group solvency regulation, combined with the actual development of China’s insurance industry. Proposed the development and reform method:Continue to adhere to the regulatory framework of "line of the three will be"; strengthen exchanges between supervisors and cooperation, strengthen the joint system; improve the regulatory philosophy, and gradually introduce some new internal model monitoring technology and regulatory philosophy.