The Influence Of Solvency Adequacy Ratio On The Operation Of Life Insurance Companies In China

With the steady progress of the marketization reform of China's insurance industry,its own risks are constantly changing.In order to adapt to the new needs of the insurance industry's marketization reform for insurance regulation,China's second-generation solvency supervision system began to be fully implemented in the insurance industry as a basis for supervision.On the one hand,China's second-generation supervision system reduces the recognized liabilities and generally increases the actual capital of insurance companies.On the other hand,the second-generation supervision system raises the risk capital requirements for market risk,making the minimum capital requirements significantly higher than the current level of reimbursement.The solvency adequacy ratio under the second-generation compensation system fully reflects the risk level of insurance companies.The second-generation supervision rules have improved the sufficiency,timeliness,authenticity and fairness of public disclosure of solvency information by insurance companies.The content and frequency of information disclosure of the solvency of insurance companies are more sufficient and timely than that of a generation of compensation.Therefore,this paper mainly studies whether the change of solvency adequacy ratio calculation and disclosure can mobilize and exert the restraining role of relevant stakeholders in the market,and urge the managers of insurance companies to improve the management and management of insurance companies.This paper first summarizes the relevant theoretical and empirical research methods on market constraints at home and abroad,and grasps the domestic research progress on the market constraints of the insurance industry,and then sorts out and compares the reform and development of China's solvency supervision system,and standardizes the analysis of solvency adequacy ratio and China The life insurance company's market constraints should exist,and then use market constraints(including price constraints and quantity constraints)as the explanatory variables,with solvency adequacy ratio as the explanatory variable,and 2016 as the node to empirically study the solvency adequacy ratio and The relationship between the market constraints of China's life insurance companies,the last period's market constraints as the explanatory variable,the insurance company's business structure and comprehensive compensation rate as the explanatory variables,using the fixed effect model to study the previous period's market constraints on the business structure And the comprehensive compensation rate reflects the impact of the insurance company's management.The conclusions obtained in this article are:1.During the period from 2009 to 2015,the price and quantity constraints in China's life insurance market exist but are relatively small,and the market constraint effect is relatively weak at this stage;2.From 2016,China's The market restraint effect in the life insurance market has been strengthened and improved compared to the previous stage;3.The market restraint effect of Chinese-funded insurance companies in China's life insurance market is more obvious than that of Sino-foreign joint venture insurance companies;When the price and quantity constraints convey the information,changes are made in terms of business structure and comprehensive compensation rate to reduce the risk level of insurance companies.