Research On The Solvency Of China 's Life Insurance Company Under The C-ROSS

As an important part of the financial industry,the insurance industry has the function of stabilizing the national economy,so its ability to fend off risks is very important.As the core of insurance regulation,solvency refers to the ability of insurance companies to perform compensation or liability,which is an important index to measure the robustness and sustainability of insurance companies.In 2008 after the outbreak of the financial crisis,the world's major countries and regions,insurance regulators are exploring to establish about a new mode of solvency regulation,Europe and the United States is the most representative system for regulatory system.Our country since 2012,under the organization of the China Insurance Regulatory Commission,started of the C-ROSS construction projects which lasted three years.In February 2015 CIRC formally released the C-ROSS backbone technical standards,a total of 17 regulatory rules and try to implement into their generation and the CROSS parallel implementation of the transitional period.In January 2016,the formal implementation of the C-ROSS means that China's insurance industry has entered a new era.In September 2017,the China insurance regulatory commission will start the C-ROSS.It is important to study that solvency of the insurance company in the new system,which can improve the risk management and the ability of the insurance company in our country,and the life company is an important part of the insurance industry.Since its growth rate is quick,and the proportion of the life insurance premium income to total premium income is increasing,the importance of the analysis of the life insurance company solvency is self-evident.With the changes of domestic and external policies and risks in China's financial insurance market,China's insurance market and solvency regulation face more complex risks and challenges.As a key subject of the insurance industry,the development of life insurance become faster.Combining with the development of the insurance industry in our country,in order to improve our country's life insurance company risk prevention capabilities,research of the C-ROSS after implementation,the change of the life insurance company solvency rules has strong practical significance.This paper studies the solvency of Chinese life insurance companies after the implementation of the C-ROSS.First this paper summarizes solvency and regulation related literature and theory,and analyzes the European Union and the United States in recent years the solvency regulatory system,then summarizes the characteristics of the C-ROSS system in our country.Then,this paper introduces the implementation of the C-ROSS after the development of our country life insurance company and risk,and combining the changes after implementation of the C-ROSS,recount estimated 36 more representative life insurance company solvency adequacy ratio.After the study,we find that life insurance company solvency adequacy ratio in the C-ROSS implementation declined after compensation with overall downward trend.Then,this paper selects the relevant financial data of the life insurance company,combines the panel data model,and analyzes the influence factors of the solvency of life insurance companies under the C-ROSS.Finally,according to the research results,this paper puts forward corresponding suggestions for the risk management of life insurance companies after the implementation of the C-ROSS from several aspects,such as further improving the construction of the C-ROSS,enhancing the initiative of risk management,comprehensively balancing the cost and efficiency of capital use,paying attention to the risk diversification function of reinsurance,and improving the internal control management level of life insurance companies.