On The Development Of Enterprise-wide Risk Management Of Insurance Enterprises

Currently, the tide of ERM rises in the international financial industries. With a brand-new risk management principle, ERM has provided a new effective solution for management risk and acquisition values of the financial institutions. Many international financial institutions are all promoting ERM and have obtained accomplishment greatly. Therefore, the research and study on ERM launched by the insurance enterprises in developed countries is of great significance in stability and healthy development of finance and economy worldwide, and furthermore, in deep exploration of the Chinese insurance institutions practically and theoretically.This article is composed of seven chapters and divided into three sections.The first section is the theoretical study, which contains the first 2 chapters. In chapter 1 ,the author compares the concepts between traditional risk & modern risk and traditional risk management & Enterprises-wide risk management. Then, it presents the characteristics of ERM. The author holds that our insurance industry should equip itself with the new notion of risk and insist in "double-side" risk management, that is to say, pay attention to "upside risk" while focusing on "downside risk". Chapter 2 makes an overall introduction of financial risk management theory, and comments on leading ideas integrated with the theoretical evolution on anterior financial risk management, modern risk management and new risk management. This chapter indicates that ERM cannot but a trend in the contemporary development, after the investigation and analysis of the theoretical...