论寿险公司资本管理.pdfVIP

Abstract Because of the particularity of life insurance products，the life insurer faces two critically important，yet somewhat confli娃ing objectives．On the one hand，life insurer must find profitable ways to employ capital and cam a fair retum on capital investment for the company’s owners+On the other hand，it must maintain enough capital and surplus to support ongoing solvency,and satisfy policyowners and regulator．Thus，this profitability—solvency tradeoff not only puts insurer in a continuance dilemma，but differentiates the capital management of life insurer from that of other enterprise。 During the course of life insurer’s capital management，in spite of attainting profitabifity objective，pursuing retum of capital and maximizing the stockholders value，it is even more important tO maintain capital adequacy and meet capital need of regulatog rating agencies and inner management。Under the company operation goals and objectives，the life insurers capital management involves planning for，obtaining， and control the long·term funds． This thesis concerns on the capital management of life insurance compan)： Based on the“decision theory”，this paper expatiates and analyzes the nucleus process oF the capital management．aiming at three aspects as follows：esti，nation of the capita} needs，evaluation of the status in quo and selection of the capital countermeas Ire．The author defines the concept of“capit醴”and produces that the profitability·solvency tradeoff is the motivation of capital management activities．And then based Oil the above contents，the author illuminates how to set the target capital and how to analyze the status quo of capital and finance strength。Finally,the author presents the countermeasures that cope with the capital surplus and the capital scarcity． Due to the insolvency and the capital scarcity of our life insurance business，氆is thesis centers on the strategy and tactic to strengthen the capital position．Considering the domestic situation，the author figures that