This study investigates the optimal reinsurance for crop insurance in China in an insurer＇s perspective using the data from Inner Mongolia, Jilin, and Liaoning, China. On the basis of the loss ratio distributions mod...This study investigates the optimal reinsurance for crop insurance in China in an insurer＇s perspective using the data from Inner Mongolia, Jilin, and Liaoning, China. On the basis of the loss ratio distributions modeled by An Hua Crop Risk Evaluation System, we use the empirical model developed by Tan and Weng（2014） to study the optimal reinsurance design for crop insurance in China. We find that, when the primary insurer＇s loss function, the principle of the reinsurance premium calculation, and the risk measure are given, the level of risk tolerance of the primary insurer, the safety loading coefficient of the reinsurer, and the constraint on reinsurance premium budget affect the optimal reinsurance design. When a strict constraint on reinsurance premium budget is implemented, which often occurs in reality, the limited stop loss reinsurance is optimal, consistent with the common practice in reality. This study provides suggestions for decision making regarding the crop reinsurance in China. It also provides empirical evidence for the literature on optimal reinsurance from the insurance market of China. This evidence undoubtedly has an important practical significance for the development of China＇s crop insurance.展开更多
基金supports of the "Young Talents Plan" Project from the Beijing Education Committee, Chinathe Youth Project of National Natural Science Foundation of China (71102125)the MOE (Ministry of Education, China) Project of the Key Research Institute of Humanities and Social Sciences at Universities (13JJD790041)
文摘This study investigates the optimal reinsurance for crop insurance in China in an insurer＇s perspective using the data from Inner Mongolia, Jilin, and Liaoning, China. On the basis of the loss ratio distributions modeled by An Hua Crop Risk Evaluation System, we use the empirical model developed by Tan and Weng（2014） to study the optimal reinsurance design for crop insurance in China. We find that, when the primary insurer＇s loss function, the principle of the reinsurance premium calculation, and the risk measure are given, the level of risk tolerance of the primary insurer, the safety loading coefficient of the reinsurer, and the constraint on reinsurance premium budget affect the optimal reinsurance design. When a strict constraint on reinsurance premium budget is implemented, which often occurs in reality, the limited stop loss reinsurance is optimal, consistent with the common practice in reality. This study provides suggestions for decision making regarding the crop reinsurance in China. It also provides empirical evidence for the literature on optimal reinsurance from the insurance market of China. This evidence undoubtedly has an important practical significance for the development of China＇s crop insurance.
基金This research is supported by Supported by the Natural Science Foundation of China under Grant Nos. 10701082 and 70801068, the major program of Key Research Institute of Humanities and Social Sciences at Universities （08JJD790145）, and a grant from the ＂project 211 （Phase III）＂.
文摘这份报纸考虑最小化 VaR 和 CTE 的问题一保险公司由控制 combinational 限额份额和站损失再保险策略保留了风险。与抑制再保险奖赏，作者分别地在站损失再保险和站损失 after-quota-share 再保险的盒子以后在限额份额的情况中给保留的风险的明确的再保险形式和最小的 VaR 和 CTE。最后，作者断定在站损失以后的限额份额比在限额份额以后的站损失是更好的再保险策略与一样的抑制再保险奖赏最小化 VaR 和 CTE。并且纯站损失再保险与一个高级规章的要求为一个保险公司被比较喜欢。
