“偿二代”监管体系下寿险公司风险管理研究
Risk Management of Life Insurance Companies under the System of “C-ROSS”

随着经济发展进入新常态，已有的监管体系“偿一代”已无法适应当前以及未来寿险业风险管理的要求。2016年,以全面风险管理为导向的“偿二代”正式实施，给我国寿险公司的风险管理带来了深刻影响。为此，本文从负债端、资产端和公司风险管理三个方面分析“偿二代”对寿险公司风险管理的作用路径及影响。研究发现：在“偿二代”下寿险公司在负债端的风险管理重点应在于着力优化并调整产品结构，使得长期期缴业务成为核心；在资产端的风险管理重点应在于提升权益投资和另类投资比例；在公司的风险管理上应逐步加强完善风险管理框架，不断提高全面风险管理能力。
With the economy entering the “New Normal”, the “First-Generation Solvency Supervision System” has been unable to meet the current and future needs of the risk management of insurance industry. The implementation of “C-ROSS” in 2016 which is risk oriented has had profound impacts on the risk management of life insurance companies. This paper mainly analyzes the action paths and influences of “C-ROSS”on the management of the life insurance company from three aspects: the liability end, the asset end and the companies' risk management. The results show that life insurance companies tend to adjust to optimize the product structure, business, and the long-term business has become the core. In addition, in the asset end, the proportions of equity investment and alternative investment in life insurance companies need to be increased substantially. Moreover, the life insurance companies ought to perfect the risk management framework and improve the ability of comprehensive risk management.