Construction Of A Comprehensive Risk Management System Of China's Life Insurance Companies

Since the reform and opening up, Chinese life insurance industry has maintained strong growth momentum, and become one of the fastest growing industries in the national economy with average 30% annual growth rate of premium. Meanwhile, Chinese life insurance market has become the emerging markets of developing countries. With the accelerating pace of economic globalization, the risk of life insurance industry faced constantly increase and also gradually expand the scope even beyond the borders. Therefore, our life insurance companies urgently need to learn international advanced risk management philosophy and ideology, adopt newly technology and experience, set up and improve our risk management system. As the Enterprise Risk Management (ERM) just implement in international finance industry, and our life insurance industry is at initial period, the thesis is trying to do research on how to improve our risk prevention and control abilities, how to set up the ERM system of our life insurance company, and put forward some suggestions an strategies.The thesis has three parts, the first part introduce related concepts of risk, risk management, history of risk management development and framework of ERM system, thus to explain the significance of adopting advanced risk management technology and building up our ERM system. The second part analyze the status of our life insurance industry and important problems existed in risk management; find out the main difficulties of localized ERM system from Chinese national condition. The third part explore ways and means on ERM system construction base on the first two parts analysis and ERM eight elements with the specific situation of our life insurance company. At last infer the conclusion is that to set up ERM system should obey company's strategic objective of risk management, implement through the organization system and rely on advanced technology so that ensure the accuracy, integrity and scientific of ERM and ensure the sustainable development of Chinese life insurance companies.