我國預警制度之實施影響壽險經營績效之研究

The study about the implement of risk-based capital to affect life insurance companies’ performance in Taiwan

黃千萍(Chien-Ping Huang)

指導教授 ： 郝充仁

淡江大學/商管學院/保險學系保險經營碩士班/碩士(2013年)

https://doi.org/10.6846/TKU.2013.00981

摘要

2008 年全球金融海嘯，而台灣亦遭受衝擊，使保險業皆處於低利率環境，使臺灣保險業面臨高度利差損。由於壽險業經營之特性，保險公司會持有保戶大量的保費，也因此我國主管機關對於保險公司清償能力的監控越來越注重。
而本研究即是運用各種的財業務指標以財務結構、業務結構、獲利能力、投資等四構面了解不同公司的經營狀況，並透過跨年度的指標值觀察保險公司是否有受到當時經濟環境之影響，將指標與實際狀況做連結，檢視各項指標是否可以正確的反應出公司面臨的問題。而後再將壽險公司分為金控公司、非金控公司之本土壽險公司、非金控公司之外商壽險公司三類，各別以其於研究期間之各項指標值與風險基礎資本額對照，找出與之變動趨勢相同之指標。
研究結果發現在金控公司類別中負債佔資產比率、各種責任準備金對資產比率、業主權益釋出率、資金運用收益率、投資報酬率及員工平均收益額在財務、業務、獲利構面有與風險基礎資本額跨年趨勢相符之情形；本土壽險公司方面，四構面中僅負債佔資產比率在財務構面較有明顯與RBC 跨年趨勢相符之情形；而外商壽險公司則是在財務構面的負債佔資產比率及各種責任準備金對資產比率與獲利能力構面的 資金運用收益率、員工平均收益額、員工平均獲利額與風險基礎資本額跨年趨勢有非常明顯的相符。

關鍵字

壽險公司 ； 財務比率 ； 經營績效 ； 風險基礎資本額

並列摘要

Financial crisis impact economic conditions in 2008 in Taiwan, and the low interest rate environment enhances the negative interest spread problem of life insurers .Due to the characteristics of life insurance business, insurance companies would hold a large number of policy holders premiums, and therefore the financial supervisory authority to life insurance company solvency for the monitoring increasingly focused.
The study used various ratio and to separate them from financial structure, business structure, profitability, investment four dimensions to understand the operating conditions of different companies, then through the index value that from life insurance companies’ multi-year observations to see the insurance company whether has been influenced by the current economic environment. Putting life insurance companies into holding companies, non- holding companies in the domestic life insurance companies and non- holding companies of foreign non-life insurance companies in three categories, then contrast the index value with RBC value, to find the index that changes in the same trend with RBC.
The results show that (1).holding companies: Debt Ratio and Reserve Funds to Assets in financial structure, Surplus Relief Ratio in business structure and Yield of Funds, Return on Investment and Operating revenue per employee in profitability were conform with multi-year trend of RBC. (2).non- holding companies in the domestic life insurance
companies: only Debt Ratio in financial structure had consistence with multi-year trend of RBC. (3).non- holding companies of foreign non-life insurance: Debt Ratio and Reserve Funds to Assets in financial structure, and Yield of Funds, Operating revenue per employee and Earnings per employee in profitability were conform with multi-year trend of RBC.

並列關鍵字

Life insurance industry ； Financial Ratio ； Performance ； Risk-Based Capital

參考文獻

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