再保险的重要性

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Stabilization of Underwriting results
• • • • Balancing variations in loss experience due to Infrequent but large risks (natural catastrophe) Stabilization of claims ratio through further spread of risk risk of change (technical progress, legislation,...) Balancing calculations errors / uncertainties – errors of risk evaluation – unknown accumulations – Inflation .
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Function of Reinsurance
• Stabilization of Financial results
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Protecting net retained account from abnormally large losses
Capital management • Minimizes probability of ruin – ensure solvency
• Increase underwriting capacity • • Large–line capacity i.e. ability to provide a high limit of insurance for a single risk Premium capacity i.e. the aggregate premium volume a primary insurer can write
The Importance of Reinsurance
Making better reinsurance decisions…
再保险的重要意义
Making better reinsurance decisions…
Risk and the Insurer
Currency Risk Interest rate risk
Operational risk
Insurance risk
Modern Enterprise Risk Management concept identifies different types of risks an organization faces. Insurance risk impact on the underwriting results of an insurance company Reinsurance reduces the insurance risk but introduces additional credit risk
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影响资金管理/再保险决议的各方：
1）管制利益：
应当公开财力及发展、施行管制措施的动机和出发点，并进行清晰的说明
2）股东：
需要了解公司的风险评估和资本充足率的计算制度以便做出审慎的投资决定
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内容概要
• 再保险的功能 • 再保险影响下的密匙管理和配置的问题 • 规划和购买再保险的原则
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Function of Reinsurance
The role of reinsurance in an insurance organization is growing in importance. From providing capacity and stabilizing underwriting results, it has now become a critical and integral part of the overall management process. It not only impacts on the potential underwriting result but has a direct impact on capital allocation decisions of the organization as well.
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Improve solvency margin – surplus capital relief, new business strain
Unearned premium reserve relief Minimize and/or defer tax liabilities – e.g. an alternative to maintaining cat reserves Efficient use of capital – Cost-Benefit analysis including VaR
Facilitate the smooth exit from specific lines of business or territories • Run-off portfolios
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再保险的功能
• 稳定财务成果：
＊使纯留存收益免受反常的巨大损失的冲击
• 资金管理： ＊将破产的可能性降低到最小化—确保偿付能力 ＊提高偿付准备金—减少过剩资本、新业务压力 ＊减少未满期的保险准备金 ＊减少和/或延迟纳税义务，例如它是持有巨灾准备金的一种可供选择的方法 ＊有效地利用资金：包括VaR在内的成本效益分析 • 有利于资金顺利地从特定的商业领域和地区流出： ＊径流组合
Baidu Nhomakorabea
再保险在一个保险组织中的重要性与日俱增。从提供更大的承保能力到稳定承保 的结果，它已成为整个管理流程当中一个重要的、不可或缺的组成部分。它不仅影响 保险人的承保潜力，还对该组织的资本分配决议产生直接的影响。
传统的任务：
降低投资组合的风险 降低意外损失的影响
新增的任务：
资金管理 资本替代
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Function of Reinsurance
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Function of Reinsurance
• Provision of services by reinsurers/brokers • Support in insurance or reinsurance technical matters – helping to develop and improve results in areas like sales techniques, risk assessment, risk pricing, product development, claims settlement, administration, etc Risk consulting and management Suggestion for technical restrictions – reinsurers can point out important cover limitations to impose on primary risks e.g. exclusions on occupational hazards as a result of experience in the USA Training Sharing of experience from other markets
Equity risk Reinsurers’ risk Credit risk Insurance risk
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风险和保险人
Currency Risk Interest rate risk
Operational risk
现代企业风险管理的概念将 识别一个机构所面临的各种不同 类型的风险。 保险风险会对保险公司的承 保结果产生影响。 再保险降低了保险风险，但 是又引入了额外的信贷风险。
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再保险的大小尺度
再保险可以使得保险活动更加稳定、更具吸引力。
Source: Swiss Re
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Parties influencing capital management/reinsurance decisions
Regulatory interests Need for a clear and transparent indication of financial strength and development of trigger points for regulatory action Shareholders Need for an understanding of company’s assessment of risk and calculation of capital adequacy in order to make informed investment decisions Capital Markets The growing possibility of cross-sectoral arbitrage demands more transparent measurements of risk management performance Rating Agencies Interest in the way insurers identify, aggregate and manage their risks – increasingly important to have a comprehensive risks assessment model to meet rating agencies stringent evaluation process Management Efficient allocation of funds and resources by identifying businesses that return most for the capital employed and the risks taken
Traditional Role: Reducing portfolio volatility Reducing impact of unexpected losses New Additional Role: Capital management Capital substitution
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再保险的功能
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再保险的功能
• 提高承保能力： ＊大线能力，也就是对单一风险提供高限额保险的能力 ＊保险费能力，也就是一个主要的保险人所能承保的保险费的总量 • 稳定承保结果： ＊有些自然灾害发生的频率不高，一旦发生却会产生巨大的风险，再保险可以平衡这些
巨灾所造成的多少不一的损失。
＊通过进一步的分散风险稳定索赔率 ＊改变风险（科技进步、立法活动等） ＊平衡计算的错误和不确定性：风险评估的错误 ＊未知风险的累积 ＊通货膨胀
Insurance risk
Equity risk Reinsurers’ risk Credit risk Insurance risk
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Presentation Outline
• Function of reinsurance • Key management and allocation issues influenced by reinsurance • Principles of reinsurance planning and purchase
的承保限制。例如由于美国市场的经验，将职业病类的风险除外。
＊培训 ＊分享其他市场的经验 ＊市场信息
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Micro and Macro Dimensions of Reinsurance
Reinsurance makes insurance more stable and attractive
Source: Swiss Re
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Market information
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再保险的功能
• 再保险人/经纪人所提供的服务： ＊对保险/再保险的技术性事项提供支持----帮助其发展和提高销售技术、风险评估
、风险定价、发展产品，理赔和管理的效果等等
＊风险咨询与管理 ＊对技术性的限制提出建议----再保险人可以指明，针对主要的风险应该加入重要