Research On The Challenges And Countermeasures Of Solvency Aligned Risk Management Requirements And Assessment On China's Insurance Company

Solvency regulation is core content of modern insurance regulation.China Insurance Regulatory Commission("CIRC")released 17 solvency rules,which is a sign that China has basically built a risk-oriented solvency regulatory system,namely,China Risk Oriented Solvency System("C-ROSS").C-ROSS has 3 pillars,and SARMRA is the main tool for Qualitative Supervisory Requirement,which is also the huge innovation of Chinese Solvency system.So,SARMRA is a brand new and huge challenge for both insurance companies.This paper studied the whole frame and specific contents and the significance in C-ROSS,using methods such as essay summarized,comparative analysis,theory analysis,and practical analysis,and also summarized the challenge for insurance brought by SARMRA,through analyzing the scores and characteristics.To be specific,the full article did a deep research on contents as follows:This paper reckoned that SARMRA is significant in C-ROSS frame.SARMRA defined the direction and content of insurance company risk management,established the incentive and restraint mechanism for insurance companies to enhance risk management capabilities,provided new space and tools for insurance company capital management,and a good opportunity for regulators to change their regulatory mode.SARMRA assessment organized by CIRC has basically reflected the current situation of risk management in China's insurance companies.After analyzing the main characteristics showed by the results,this paper put forward challenges of China's insurance industry through the analysis risks of China's insurance industry,and some deep level problems and challenges of risk management such as lack of risk awareness,lack of risk concept and lack of professional talents.In order to cope with the challenges brought by SARMRA to the insurance industry,the corresponding countermeasures are put forward in this paper.On one hand,insurance companies should combine with the actual operation to establish a comprehensive risk management system suitable for theirselves.On the other hand,insurance companies should start from the weakest link,risk preference,to build the risk preference system.This paper simulated system of risk appetite and the capital constraint and influence of the risk preference using the operating data of a property insurance company.