Research On The Governance Of Small And Medium-sized Insurance Companies In China

In the early part of this century,in order to open up the insurance market and promote the development of the insurance industry,China’s insurance industry first initiated reforms in the financial industry.The ultimate goal of its reform is to establish a modern insurance enterprise system that conforms to China’s national conditions and conforms to the development of the financial industry.Before the formal reform,several large state-owned insurance(group)companies in China have modernized the organizational structure such as the equity governance structure,and then other insurance institutions in the industry have begun to adjust.However,the overall reform of the insurance industry does not rely solely on a few large insurance institutions.Behind these industry leaders are a large number of joint-stock commercial insurance companies that have just established,lacked overall strength and scale of enterprise,and the operation of these small and medium-sized insurance companies.Management and development can no longer be ignored.With the rapid development of China’s insurance industry,a large number of small and medium-sized insurance companies have been established,but in the face of the entire financial market environment and competition with large insurance companies,small and medium-sized insurance companies face severe transformation challenges.In order to achieve more effective transformation management,solving corporate governance issues is a top priority.This paper takes the example of mascot life as the case,analyzes the solvency,equity governance structure,high-level personnel changes and business transformation of the enterprise.In China,the governance structure and governance mechanism of small and medium-sized insurance companies tend to be perfect,the business development model is sound and sound,and the risks On the basis of the gradual improvement of the management and internal control mechanism,the paper summarizes the governance problems and challenges faced by small and medium-sized insurance companies at the present stage,which are embodied in the severe governance environment,inadequate governance innovation,alienation of governance objectives,and weak governance.The existence of these problems will weaken the development momentum of small and medium-sized insurance companies and affect their position in the insurance industry.Then it combines the governance characteristics of small and medium-sized insurance companies with the current situation of governance,and expounds the positive significance of small and medium-sized insurance company governance to regulate the development of the industry and promote its own transformation and development,and then proposes and solves the above problems for the governance of small and medium-sized insurance companies.In the process of deepening the reform of the insurance industry,small and medium-sized insurance companies should establish correct governance thinking,strict equity supervision,and improve the governance structure;at the same time,implement differentiated strategies in business transformation and enhance competitiveness.