人寿保险风险管理.pptVIP

2006/12/14 人壽保險風險管理Life Insurance Risk Management 南山人壽 劉禧寧資深副總 S.N. Low Life Insurance in Taiwan Total Life Ins Co.: 22 (local) +9 (foreign) = 31 2005 Total in-house staff (Life: 24,839 in 2005) Total agency (Life 202,737 in 2005) Total asset in industry: Life Ins NT$ 6,574b Total policies: Basic 44,243,445; Rider 70,874,777 Total Life Ins premium: NT$ 1,457,632m Total claims: NT$ 498,827m National Income per Capita: NT$ 438,255 NT$ spending per person in life insurance: NT$ 64,015 Life insurance - beyond commercial activities Institutional investors – Source of fund for private/public sectors Government/Treasury Bond: NT$1,631,285m @ Aug06 Insurance Industry holds 20% of total outstanding Gov’t Bonds Foreign Investment: NT$ 2,022,944m @ Aug06 Insurance Industry holding ~2.5% of total market capitalization Financial protection against premature death or health problems Savings vehicles for planned/unplanned events and retirement Contribution to social stability Promote and support community services and welfare Promote better employer/employee relationship Created more job opportunities Relieve social welfare systems Why is Life Insurance Unique? Lifetime commitment Unilateral - Utmost good faith Aleatory contract (射倖契約) Contracts of adhesion (附合契約) Fiduciary role Keys to lifetime commitment… Governance Risk Management Professionalism Leading to ERM as defined… “… a process, effected by an entitys board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.” Source: COSO Enterprise Risk Management – Integrated Framework. 2004. COSO. ERM - objectives Aligning risk appetite and strategy Enhancing risk response decisions Reducing operational surprises and losses Identifying and managing multiple and cross-enter