我国财产保险业顺周期效应及应对策略研究  

China's Property Insurance Cyclicality Effect and its Relevant Strategies

作　　者：尹佳璇[1,2] 岳彩申[1] 

机构地区：[1]西南政法大学经济法学院,重庆401120 [2]英大泰和财产保险股份有限公司,北京10001

出　　处：《经济经纬》2016年第5期137-142,共6页Economic Survey

基　　金：教育部哲学社会科学研究重大攻关项目(12JZD038;11JZD009)

摘　　要：笔者运用2007年~2012年37家财险公司数据,采取广义矩估计的计量方法,构建了偿二代体系下逆向监管解决的各类风险指标,并利用面板数据考察了财险行业的顺周期效应及逆周期监管对财险企业持有资本的影响。结果表明,在偿一代监管体系下,财险行业的乘数扩大效应与再保效应导致顺周期效应产生,且在该体系下偿二代监管体系应对的各类风险对财险企业持有资本影响各不相同,承保风险增加会提高财险企业持有资本数量,投资风险和违约风险提高会降低财险企业持有资本量。为了应对顺周期效应带来的风险,要对财险公司的核心一级资本建立锚定机制。The authors use data in 2007 ~ 2012 from 37 home insurance companies and adopts the method of measurement of generalized moment estimation,construct all kinds of risk indicators under the second generation compensation system,and use the panel data investigates the pro-cyclical effect of the insurance industry and countercyclical regulatory effects on hold capital insurance enterprise.Results show that the regulatory system in their generation,the insurance industry＇s multiplier expand effect and reinsurance effect lead to the pro-cyclical effect,and under the system of compensation of the second generation of the regulatory system the influences are not identical,while underwriting risk increase will improve insurance companies hold capital amount,the investment risk and default risk increase will reduce the amount of insurance enterprises hold capital. In response to the risk of pro-cyclical effect,the insurance company＇s core tier one capital anchoring mechanism should be established.

关 键 词：财产保险 顺周期效应 偿付能力 

分 类 号：F842.2[经济管理—保险]