新兴市场的保险发展：公共政策和监管的作用

1Insurance Development in Emerging Markets: The role of public policy and regulationDennis Noordhoek,Director Public Policy & Regulation, The Geneva AssociationBill Marcoux,Member of the Operating Committee and Chair of Law, Regulation & Resilience PoliciesWorking Group, Insurance Development ForumKai-Uwe Schanz,Deputy Managing Director and Head of Research & Foresight, The Geneva AssociationInsurance Development in EmergingMarkets: The role of public policyand regulation 4www.genevaassociation.orgAcknowledgementsThis publication is a product of the Public Policy and Regulation (PPR) work stream of The GenevaAssociation, co-sponsored by Charles Lowrey, CEO, Prudential Financial, and Seiji Inagaki, President,Dai-ichi Life.We are very much indebted to the members of the PPR Working Groups, namely: Ian Adamczyk(Prudential Financial), Andrei Belik (Intact Financial), Panos Charissiadis (Munich Re), Hélène Chauveau(AXA), Xavier Cognat (BNP Paribas), Dominique d’Haens (NN Group), Lindsey Donnithorne (Lloyd’s), CiraGarcia Duffo (VidaCaixa), Peter Duran (AIA), Reinhard Eckl (Allianz), John Fielding (Chubb), Sai-CheongFoong (AIA), Hugh Francis (Aviva), Urs Halbeisen (Swiss Re), Martin Hansen (AIG), Shota Hata (Dai-ichiLife), Jiro Kamiko (Dai-ichi Life), Kei Kato (Tokio Marine), Diana Keegan (MetLife), Paolo Madrussa(Generali), Edward Mishambi (RenaissanceRe), Yancy Molnar (Chubb), Cameron Murray (Lloyd’s), MakotoOkubo (Nippon Life), Hiroshi Oota (Dai-ichi Life), Bryan Pickel (Prudential Financial), Patricia Plas (AXA),Olivier Poissonneau (AXA), Carlos Rami (MAPFRE), Bill Schwegler (Transamerica), Dennis Sno (HannoverRe), Hidehiko Sogano (Dai-ichi Life), Siebren van Terwisga (Aegon), Halina von dem Hagen (Manulife),Tobias Wassmann (Swiss Re) and Kimberly Welsh (RGA). In addition, this report benefitted fromcomments shared by Gisela Plassman (ERGO) and Clarence Wong (Peak Re).We also wish to acknowledge the valuable contributions of the following members of the InsuranceDevelopment Forum (IDF) Law, Regulation and Resilience Policies Working Group: Edward Barron andMartin Hansen (AIG), Edmund Kenealy (Liberty Mutual), George E Thomas (Insurance Institute of India),Leigh Wolfrom (OECD), Stephen O’Hearn (former Global Leader of Insurance at PwC), Francis Bouchard(Marsh & McLennan), Hannah Grant and Hui Lin Chiew (Access to Insurance Initiative, A2ii), and ClaudiaThyme (AXA) of the IDF Sovereign and Humanitarian Solutions Working Group.We would also like to thank the following experts and executives who made themselves available forinterviews:•Salaheddine Aji, Deputy General Director, Fédération Marocaine des Sociétés d’assurances et deReassurance (FMSAR), Morocco•Kheedhej Anansiriprapha, Executive Director, Thai General Insurance Association (TGIA), Thailand•Arup Chatterjee, Principal Financial Sector Specialist, Asian Development Bank•Jorge Claude, Executive Vice President, Asociación de Aseguradores de Chile (AACH), Chile•Dody Dalimunthe, President Director, PT Reasuransi Nasional (Nasional Re), Indonesia•Deepak Godbole, Secretary General, Insurance Institute of India•Rubem Hofliger, Head Public Sector Solutions Latam, Swiss Re, Mexico•Srinivasan Kalambur, former member, Insurance Regulatory and Development Authority of India (IRDAI)•Corneille Karekezi, Group Managing Director & CEO, Africa Re•Sang Lee, CEO, Manulife Vietnam•Carlos Luna, CEO, Guy Carpenter Colombia•Eduardo Moron, President, Asociación Peruana de Empresas Seguros (APESEG), Peru•Ngozi Ola-Israel, Chief Financial Officer, AXA Mansard Insurance, Nigeria•Heddy Pritasa, Technical Director, PT Reasuransi Maipark, Indonesia•Allan Santos, President and CEO, National Reinsurance Corporation of the Philippines (Nat Re), Philippines•Gonzalo Santos Mendiola, President, Asociacion Argentina de Compañia de Seguros•George E. Thomas, Professor, College of Insurance, Insurance Institute of India•Lina Vongsa-ath, Chief of Partnerships and Emerging Customers, Mandiri AXA, Indonesia ContentsForeword1.Executive summary2.Introduction2.1Building on previous research2.2Research objectives and methodology3.The rationale for regulatory intervention in insurance markets3.1Market failures in insurance3.2Regulatory approaches to market failures4.Core elements of effective regulation and supervision in emerging markets5.From theory to practice: Insights from 14 countries5.1The role of regulation in insurance market development5.2Broader public policies and legal frameworks6.Recommendations for policymakers, regulators and insurersAppendixReferences 3Insurance Development in Emerging Markets: The role of public policy and regulation569101112121315192126333536 4www.genevaassociation.orgAcknowledgementsThis publication is a product of the Public Policy and Regulation (PPR) work stream of The GenevaAssociation, co-sponsored by Charles Lowrey, CEO, Prudential Financial, and Seji Inagaki, President,Dai-ichi Life.We are very much indebted to the members of the PPR Working Groups, namel