個人綜合險之再保險研究

全球在2019年第四季起陸續在各地傳出新型冠狀肺炎疫情，在短時間內迅速蔓延全球造成經濟活動停擺，其中受挫最嚴重的就是觀光產業，由於各國多數以封鎖國境作為防疫的辦法，所以航空業、觀光、旅遊、餐飲、遊樂區等嚴重受創；在疫情之初各保險公司也因疫情造成個人綜合保險損率迅速攀升，本研究旨探討在個人綜合險之再保險研究，當損率劇烈波動時，再保險運用對公司的影響；先以赫芬達爾指數（HHI）分析市面上所有產險公司目前的市占分布狀態，得知目前為中度集中市場；並以選定五家產險公司的2017-2019年公開財報資訊個別計算出公司規模、公司年齡、市場佔有率、再保險比率、槓桿比率、投資報酬率，進行產險公司財務體質分析診斷，再以Pearson相關係數分析，發現個人綜合保險損率、獲利率及再保率呈現高度相關，所以個人綜合保險中的主要險種-旅行綜合保險雖然為短天期保險，依然需要做風險的分散增加再保險的使用，本研究結果顯示五家產險公司中目前最低費用率為35.48%，以此費用率做為參考值計算，再保險後自留保費損率計算出為65.42%，此為可建議各公司使用再保險之最佳模型，建議以此模型為最大臨界值，供未來產險公司參考；另外風險更大時可利用非比率型再保險，建議以擬定最高賠償金額為基礎，超過部分由再保人分攤，如此兩道防線可以確保重大損失風險的分攤，並且再保險的運用可以增加承保能量降低風險增加穩定獲利。

關鍵字

個人綜合保險；再保險；獲利分析；費用率

並列摘要

Since the fourth quarter of 2019, the new type of coronavirus has spread around the world. It has spread rapidly across the world and caused the suspension of economic activities. Among them, the tourism industry has suffered the most. Since most countries close their borders as a method of epidemic prevention. The aviation industry, tourism industry, catering industry, and amusement park industry has suffered severely due to the pandemic; the insurance companies have also rapidly increased the Comprehensive Personal Liability Insurance loss rates due to the increase of the seriousness of the epidemic. This research is aiming to explore the usefulness of reinsurance in Comprehensive Personal Liability Insurance when the depreciation rate fluctuates significantly; firstly, use the Herfindahl-Hirschman Index (HHI) to analyze the market distribution of the property insurance market to find out the me-dium concentrated market. Have selected five property insurance companies as examples and use the information from the 2017-2019 public financial report of these companies to conduct financial analysis, by using Pearson correlation coefficient analysis. This analysis has found that the Comprehensive Personal Liability Insurance loss rate, profit margin, and reinsurance rate are highly correlated. Therefore, even though the main type of insurance in Comprehensive Personal Liability Insurance- the travel comprehensive insurance is short-term insurance, the person still needs to consider risk diversity and increase reinsurance. The result of this study shows that the lowest expense rate currently among the five property insurance companies is 35.48%. By using this expense rate as a reference value to calculate the retained premium loss rate after reinsurance, the result is 65.42%. This is the best reinsurance model and It is rec-ommended that the maximum critical value of this model could be for future reference for the property insurers; also, non-ratio reinsurance can be used when the risk is greater. It is recommended to use the proposed maximum compensation amount as the basis and the excess amount would be shared by the reinsurer. These two actions can ensure to divers the risk of the major losses, and the application of reinsurance can also increase the underwriting energy, reduce risks, and increase stable profits.