Research On The Solvency Of China's Life Insurance Companies Under The Background Of The Second Generation Solvency System

As one of the three major carriages in the financial industry,the insurance industry has the function of stabilizing economy and risk management,and plays a vital role in the national economic operation.Theref-ore,the insurance industry's own risk resilience is also very important.The solvency is the core of the insurance industry supervision.In 2012,China officially launched the construction of a risk-oriented second-generation solvency supervision system(referred to as "second-generation").Three years later,in 2015 Officially released,and entered the transition phase of the "second-generation" trial run.At the beginning of 2016,the China Insurance Regulatory Commission announced that in the first quarter of 2016,the insurance company only needs to submit the "Second Generation" report to the China Insurance Regulatory Commission,ending the transition phase of "paying for the first generation" and"reimbursing the second generation".In September 2017,the Banking Regulatory Commission launched the second phase of the "Second Generation" project.The new and old alternation of"paying for the first generation" and "paying for the second generation" will inevitably have an impact on the solvency of China's life insurance companies.As an important part of China's insurance industry,life insurance is responsible for its solvency after the implenlentation of the"second generation" rule.The study of the changes has a strong practical significance.The biggest difference between the two generations of solvency supervision system is that the scale of "paying for one generation" is transferred to the risk orientation of "second generation".Therefore,the insurance company's risk control is more strict,and the performance of China's life insurance companies here.How and how to develop in terms of solvency is a very worthwhile question.After researching the relevant literature on solvency of-the insurance industry at home and abroad,this paper selects the relevant internal factors that can be measured and scientifically affected by the solvency of life insurance companies under the "second generation",using statistical analysis software SPSS20.0.The selected data is the latest financial data released by the insurance company.The obtained data is analyzed by principal component analysis using SPSS20.0.The relevant variables affecting the solvency of life insurance companies in China are classified,and a new class of components is synthesized and constructed.The relationship between the factor score and overall score,and finally overall score is obtained,then the regression analysis method is used to judge whether the established regression model can fit well with the real data.Through the analysis of these two aspects,the following conclusions have been drawn:First.the factors that have a greater impact on China's life insurance companies after the implementation of "Secondary Generation" include management level,asset structure and underwriting business level.After the implementation of the second generation,the solvency adequacy ratio of Chinese life insurance is weaker than the solvency adequacy ratio of foreign life insurance;thirdly,based on the study of theoretical and empirical studies,according to the importance degree of influencing factors,China's life insurance companies provide some countermeasures in terms of solvency,such as transforming asset allocation,optimizing product structure,improving underwriting business status,strengthening business management,Improve the initiative of risk management,in order to respond to risks and improve the level of solvency.