限額再保險法制之研究

所謂限額再保險主要乃在於強調其財務融通之特性而非傳統危險移轉之再保險。由於限額再保險係以非傳統方式來處理傳統可保危險及其他財務危險，因而，對此商品之監理重點實有必要先加以釐清，俾能確定規範監理架構。而國內學者雖對限額再保險多有介紹，惟對該商品監理重點及國際間未來監理修正方向尚論述不多。惟此，在簡單回顧限額再保險之發展背景並介紹歐、美監理規範及未來監理修正方向後，針對我國「保險業辦理再保險分出分入及其他危險分散機制管理辦法」中就限額再保險之監理規範有無不妥之處，及應如何修正始為適當提出修正建議。就短期而言，本文建議宜參酌FAS 113或NAIC SSAP 61及62之規範方式，儘速就上開管理辦法中限額再保險之定義及規範方式進行修正，以供保險業有所遵循並解決適法性之問題；而長期而言，宜重新制定財務再保險業務之監理規則，本文建議宜參酌IFRS 4或NAIC SSAP 62修正建議，採分離計帳方式使其能真正反映限額再保險之交易本質並與國際保險監理組織所訂之準則接軌。

關鍵字

財務再保險；有限再保險；限額再保險；限額風險再保險；限定再保險；新興風險移轉

並列摘要

Finite reinsurance contract, also known as financial reinsurance, is fundamentally different from traditional reinsurance. Usually, insurance risk transfer and financing are combined and the time horizon of money is emphasized in a finite reinsurance deal. This article identifies and evaluates the legal problems that have arisen in connection with finite reinsurance, especially focusing on the main core of finite reinsurance, expressed as significant risk transfer. By analyzing the definition, function, and characteristics of finite reinsurance, this article has found that ”Regulations Governing Insurance Enterprises Engaging in Operating Reinsurance and Other Risk Spreading Mechanisms” can not be suitable for Taiwanese finite reinsurance supervisory system. Finally, this article will offer some suggestions for the formation of a supervisory system for finite reinsurance based upon previous discussion. This article recommends two-stage approach to amend Taiwanese finite reinsurance supervisory regulation. In short duration, the FAS 113 or NAIC SSAP 61 & 62 could be the important references if the authority amends contents of significant risk transfer of finite reinsurance in Taiwan. In long duration, the article recommends unbundling could be the best way to express true instinct of transactions.