Research On ALM Of China's Property Insurance Companies Under "C-ROSS"

China's insurance industry is still in a stage of rapid development,debt growth is an important factor in the development and profitability of the company,which determines that most companies are still in the stage of debt-driven,asset and liability management awareness is still insufficient,product development pricing and capital use separation and contradiction More prominent,asset-liability mismatch,bringing loss-making loss risk,liquidity risks.In the first quarter of 2016,the China Insurance Regulatory Commission(CIRC)formally implemented the risk-oriented solvency system(C-ROSS),and China's insurance industry has entered a new era.The new insurance regulatory system has also proposed the asset liability management of insurance companies The most important point is that the C-ROSS of different types of assets and liabilities for a detailed risk division,making the insurance companies in the planning of business development and asset allocation need to consider regulatory rules given the risk factor size;Another point is that risk-oriented compensation for the second generation of a dynamic regulatory concept,any one type of business and asset ratio changes or changes in business strategy will lead to changes in solvency adequacy ratio,which requires insurance companies A set of asset-liability management systems across the organization is designed to plan the operations of the company rather than simply matching the assets to liabilities or matching assets.Therefore,traditional methods of asset liability management can not cope with the increasingly complex risks faced by insurance companies,and dynamic financial analysis as an advanced,can the company's overall operating model of the method came into being.The dynamic financial analysis models the overall operation and financial situation of the insurance company.By simulating the different operating environrnent and operating strategy adopted by the company in the future,the company's future operating results are obtained.Of the internal and external factors on the impact of the company's operating results to obtain the best operating strategy.Based on the theoretical analysis and empirical analysis,this paper studies the assets and liabilities management of Chinese property insurance companies under the supervision of the new regulations.Firstly,this paper analyzes the impact of second-generation implementation on assets and liabilities management of property insurance companies in China,then constructs the dynamic financial analysis model of China People's Property Insurance Company,and uses dynamic financial analysis to conduct an empirical study on assets and liabilities management of property insurance companies.And then the conclusions are summarized and policy recommendations are put forward.This paper consists of six parts.The first part is the introductory part of the article.Firstly,it introduces the research background,the significance and the development of the insurance industry in China,and expatiates on the necessity of systematic research on the asset liability management of insurance companies in our country.Secondly,the domestic and foreign research present situation,Finally,this paper summarizes the innovation and shortcomings of this paper.The second part analyzes the impact of the development of the solvency supervision system on the property and liability management of the property insurance companies.From the transition from the first generation to the second generation,the second chapter analyzes the development of the property insurance business and asset allocation influences.The third part is the overview of the asset liability management theory of property insurance companies,and expounds and compares several asset and liability management techniques.Finally,it analyzes the necessity of using the dynamic financial analysis method to carry on asset and liability management.In the fourth part,the dynamic financial analysis system is modeled,and each module of the dynamic financial analysis system is introduced and its model parameters are estimated and simplified.The fifth part is the empirical part of this paper.In this paper,dynamic financial analysis is used to conduct an empirical study on asset and liability management of PICC.The changes of solvency and profitability of the company are analyzed under different operating strategy scenarios,and suggestions are given on how to choose the best overall operation strategy.The sixth part,summarizes the research results of the whole paper,and puts forward some suggestions from the angle of the enterprise management and the supervision in order to promote the asset liability management of the property insurance company.