欧盟与美国ORSA研究及对我国的实践指导

A Research Report on European Union's and United States' ORSA and Its Guidance to China's ORSA Practice

自身风险和偿付能力评估(ORSA)是近年来保险业新兴的关注点之一,它主要以定性的方式管理和评估保险公司面临的风险。本文首先概括性地描述了欧盟和美国ORSA的最新进展和目前所处的阶段,之后根据ORSA的特征构建了一个ORSA金字塔,自上而下共分七个部分深入剖析ORSA的原则、内容和要求。明确保险公司应在董事会和高级管理层的带领下,本着前瞻性和相称性的原则进行ORSA。ORSA的实践过程涉及内部模型、ORSA偿付能力需求、文件记录和保险集团ORSA这四个突出方面,本文针对欧盟与美国的具体特点,探究其ORSA的共性和不同,发现各自的优势和不足之处。基于这些理论研究并结合我国实践,本文提出了五点要求作为对未来我国ORSA实践的指导,促进我国保险业的发展和监管制度建设。

Own risk and solvency assessment （ORSA） is one of the emerging concerns of the insurance industry in recent years. It is primarily a qualitative way to manage and assess the risks insurance companies are facing. This paper began with an overview description of the latest ORSA progress and the current development stage in both EU and the US. Then it built an ORSA pyramid based on its characteristics, which analyzed ORSA＇ s principles, con- tents and requirements in depth with seven parts from up to bottom. It made clear that insurance companies should conduct their ORSA under the direction of the board and senior management, and follow the principle of forward-loo- king and proportionality. ORSA practice involved four prominent aspects ~ internal model, ORSA solvency re- quirements, documentation and insurance group ORSA. This paper focused on commons and differences, strengths and weaknesses of European Union＇ s and United States＇ ORSA, with a consideration of their specific characteris- tics. Based on the theoretical studies and combined with China＇ s actual condition, this paper proposed five useful suggestions ,which could serve as the guidance of China^s future ORSA practice, and promote the development of China＇ s insurance industry and the regulatory system construction.