基于风险的保险偿付能力制度——执行摘要

Risk-based insurance solvency regimes – Executive Summary A key regulatory measure to safeguard insurers’ solvency is the implementation of a risk-based solvency(RBS) regime. Such a regime is designed to incentivise insurers to hold sufficient capital to cover their risks,enabling them to meet their obligations to policyholders, even in adverse circumstances. Transitioning to Many emerging market and developing economies are embarking on this journey, which oftenspans several years. Against this backdrop, the International Association of Insurance Supervisors (IAIS)published theGuidance on transitioning to a risk-based solvency (RBS) regimeto provide a structured What is an RBS regime? An RBS regime is a regulatory framework that requires insurers to maintain a sufficient level of capital thatis proportionate to cover their risk profiles and withstand financial difficulties, supported by a sound Quantitative elements:These elements include valuation methodologies for assetsandliabilities,treatment of investments,the calculation of capital requirements, Qualitative elements:These elements focus on the governance frameworks in insurers,including oversight roles and responsibilities, and governance structures such as the risk Reporting and disclosure elements:These elements encompass supervisory reportingand public disclosure requirements of both quantitative and qualitative information. An RBS regime can take many forms, involving different combinations of these elements andvarying in complexity. The final form of an RBS regime will depend on the characteristics of the jurisdiction,such as its economic activity and conditions, the development of financial markets, demographics and Benefits and challenges of transitioning to an RBS regime Supervisory authorities may choose to transition to an RBS regime for several reasons. Such a frameworkcan enhance the protection of policyholders by providing supervisors with a deeper understanding ofinsurers’ business models and risk profiles. It also supports the development of insurance markets throughproportional application of regulatory requirements based on the size and complexity of insurers, allowing and mitigation to prevent the build-up of systemic risk. Finally, aligning with international standards andbest practices helps position a jurisdiction as an attractive and secure environment for international Implementing an RBS regime involves significant challenges. These include high implementationcosts, such as IT upgrades, developing actuarial expertise, training and the development of robust datamanagement systems. It also requires cultural shifts within supervisory authorities and the insurance Key considerations for transition Transitioning to an RBS regime is a significant step that requires a long-term perspective. The complexityofan RBS regime should align with a jurisdiction’s characteristics.In some cases,other market Tailoringto the jurisdictional context–Transition strategies should reflect economic conditions, market maturity, demographic and cultural factors, and the sophistication of the RBS regime. Jurisdictions may choose a conceptually led approach, where the initial consultationfocuses on the objectives and design of the regime, or a legislation-led approach, where the legalframework is established first and technical details are added later. Jurisdictions will also have todecide to adopt a phased approach, where components of the RBS regime are introduced •Capacity-building– Investment in human resources, particularly actuaries, risk managers and ITprofessionals, is critical. Supervisors should also build internal expertise to oversee RBS processes •Stakeholder engagement– Engaging insurers, government bodies and other stakeholdersthrough consultations, field testing and workshops can provide transparency, buy-in and smooth Practical aspects of RBS regime implementation Implementing an RBS regime begins with careful scoping, securing endorsement from supervisory leadersand governments, and establishing dedicated teams and governance structures to manage the transition.A comprehensive project plan defines rules of conduct, milestones, communication strategies and riskmanagement processes. Key design choices, such as whether to legislate early or later and whether to The transition often requires legislative reforms across multiple policy domains and a culturalshift among supervisors and insurers towards proactive, risk-based thinking. Jurisdictional experiences show that implementation generally takes five to 10 years or more, with success depending on sustainedpolitical support, transparent communication and a pragmatic balance between ambition and market Technical aspects of RBS regime implementation The technical foundation of an RBS regime lies in building a coherent solvency framework that balancesinternational standards with local realities. Central to this is the total balance sheet approach, whichrequires supervis