The Research Of Enterprise Risk Management Of Property Insurance Companies Based On Economic Capital

Property insurance company is a professional risk manager, which has the author of "social stabilizer". In recent years, with the rapid development of economy, the property insurance company in our country has obtained the proud achievement:the premium income is growing quickly, so as to the depth and density of property insurance. At the same time, due to the increasing property insurance supplies and the more and more opening insurance market, the risk management of China’s property insurance companies is overwhelmed and revealing lack of risk management. In such a complex environment, China’s property insurance companies want to gain competitiveness and sustainable development opportunity, the first point is to strengthen the company’s risk management.The COSO committee issued enterprise risk management framework which provided an integrated system for enterprise risk management, and obtained the international accepted and adopted in many countries and companies, and made great achievements. Therefore, firstly, this article put forward the enterprise risk management based on the shortcoming of traditional risk management and international trade. And by combining COSO enterprise risk management framework, conclude enterprise risk management and analyzes the necessity for our country’s property insurance company to implement enterprise risk management. Secondly, this paper analyzes the present situation of the enterprise risk management in foreign property insurance company, expected to draw lessons from foreign successful experience, and help our country’s property insurance company to implement enterprise risk management system better and faster. Finally, because of the special function of economic capital in risk measurement and risk allocation, this paper raises a new concept called economic capital, which as a new tool of risk management, expect to implement enterprise risk management better and create the most value by the least capital. According to the needs of research, this article is composed of five parts, this five parts link closely. The introduction part introduces the research background, the purpose of this article, the present situation and development trend of literature review in domestic and foreign research, the research ideas and methods and the framework and innovation point.The second part is an overview of the property insurance company’s enterprise risk management. First, this part introduces the contents and the present situation analysis of the traditional risk management; Because of the shortage of the traditional risk management, the author then raises a new concept called the enterprise risk management. And by combining COSO enterprise risk management framework, conclude enterprise risk management, by making comparison of the traditional risk management and enterprise risk management, analyzes the necessity for our country’s property insurance company to implement enterprise risk management.The third part detailed introduces the present situation and problems of enterprise risk management about both domestic and foreign property insurance companies. First, introduces the developing course of risk management about insurance companies separately domestic and overseas; Then, analyzes the present situation and developing of enterprise risk management about the foreign property insurance companies; Again, this part analyzes the current situation and problems of enterprise risk management about the domestic property insurance companies; Finally, draws lessons from foreign successful experience, summarizes some beneficial enterprise risk management advices for our country’s property insurance companies.The fourth part introduces the position and role of economic capital in property insurance company’s enterprise risk management. First, introduces the concept of economic capital, and analyzes the relationship between economic capital and unexpected losses. Secondly, introduces the application of economic capital in the risk measurement and risk allocation. Then, based on the above theoretical analysis, sums up the position and role of economic capital in the property insurance company’s enterprise risk management.The fifth part, according to a series of analyses on the enterprise risk management and economic capital, this part introduces the application of economic capital in the enterprise risk management of our country’s property insurance company. Firstly, introduces the application principles of economic capital in property insurance company’s enterprise risk management. Secondly, analyzes the application of economic capital in the enterprise risk management of our country’s property insurance company. Finally, on the basis of theoretical analysis, starting from the actual situation, this part puts forward a series of economic capital application countermeasures in enterprise risk management of our country’s property insurance company.