Research On Risk Management Of Property Insurance Companies Of China Under C-ROSS

Our insurance industry have made great progress in the past thirty years, especially in life insurance industry. A lot of things can prove it:the actuary method, the product level and the team level. Today, more and more financial company choose to mix their business, which also affects the insurance industry. The competition style in insurance company has also changed from vulgar to fine grained. There are more and more business entities in the property insurance market, and consumers have a variety of demands. In order to cope with the situation, companies try to find their own business and service mode according to their own characters (product, technology, personnel, and shareholders’ background). At the same time, as the openness of our market is improving, our regulation is updating and transforming, not only just focused on solvency, but also focused on economic capital. All of these provide development opportunity to insurance companies. And also put strict requirements to the risk management system of the company, which is not just on compliance, but also on comprehensive risk management. In fact, the comprehensive risk management is very important, which can improve the accuracy of insurance reserve, and also the founder of asset liability management (ALM). However, the actual situation is weak, especially in property companies, the same as the international situation, the property insurance industry level is behind the life insurance. All of these provide significance to this paper. We will first carry on the literature review of risk management on insurance company, especially the property company. And then we will focus on the financial data of China and an actual cases industry. After that we will try to find own operational solution to improve the poor present risk management situation.