Research On Solvency Capital Requirement Of Man-made Catastrophe In Non-life Insurance Company

Solvency is the basic indicators that must be considered when measuring the insurance company's financial situation.The insurer should have a minimum solvency capital corresponding to the size of its business.And the supervision of solvency is the core of the national insurance market supervision and management.As the second generation of the EU regulatory framework Solvency II launch,the world is beginning to push their system to adapt to a new generation of solvency regulation of the insurance industry.China has also speed up to establish the second generation of solvency regulation system.Catastrophe risk is an important factor affecting the solvency of insurance companies.It has become one of the important research areas when establishing a new regulatory system.Catastroph es can be divided into natural catastrophe and man-made catastrophe.While natural catastrophe has been extensively studied,studies of human catastrophe are limited.Based on the theoretical framework of the EU Solvency?,combined with the characteristics of man-made catastrophe and the domestic insurance market from the view of line of business,this paper introduces sub-catastrophe risk factor concept to explore establishingthe model of man-made catastrophe solvency capitalfor non-life insurance company.Then this paper conduct relevant measurements under this theoretical model.This paper is divided into four chapters.The first chapter is an introduction,which mainly introduces the background and significance,and conducts a detailed study about current development of the new generation of solvency regulation system in both domestic and foreign countries.The second chapter studies how to build a man-made catastrophe solvency capital model,and focus on solvency capital model according to the EU Solvency? and C-Ross of China's new generation of solvency regulation system.Based on the man-made catastrophe solvency capital models of EU Solvency?and minimum capital model of insufficient premiums risk in C-Ross,the paper tries to build the man-made catastrophe solvency capital model which is fit for the situation in our country.Chapter III focus on the cluster analysis of property insurance companies using panel data clustering analysis method.Based on the result of cluster analysis,choose risk factors in man-made catastrophe solvency capital model according to different levels of premium,establishing regressive risk factor selection method with credibility theory.The final chapter points at the appropriate measurement of human catastrophe solvency capital requirements of insurance company in both industry level and company level,and validate the fairness and effectiveness of the model.