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首页> 外文期刊>The North American journal of economics and finance >Risk management in life insurance companies: Evidence from Taiwan
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Risk management in life insurance companies: Evidence from Taiwan

机译：人寿保险公司的风险管理：来自台湾的证据

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摘要

The solvency issue of life insurance companies has become more important in recent years as business risks turn increasingly greater. This study examines the relationship among investing risk, underwriting risk, and the capital ratio during the post risk-based capital regulation period of 2004-2009 in Taiwan. In addition to the two-stage least square regression (2SLS), we also adopt the two-stage quantile regression (2SQR) to capture the effects of low capital (or risk) levels and high capital (or risk) levels. 2SLS do not fully explain the capital-risk relation. Contrary to previous evidence reported in the U.S., our findings in 2SQR model indicate that the relationship between capital and underwriting risk is positive, while the relationship between investing risk and capital shows a reverse pattern. Overall, the 2SQR provides stronger evidence than the 2SLS.
机译：随着业务风险变得越来越大，近年来，人寿保险公司的偿付能力问题变得越来越重要。本研究考察了台湾2004-2009年基于风险的后资本监管期间的投资风险，承保风险与资本比率之间的关系。除了两阶段最小二乘回归（2SLS），我们还采用两阶段分位数回归（2SQR）来捕获低资本（或风险）水平和高资本（或风险）水平的影响。 2SLS没有完全解释资本风险关系。与美国先前报道的证据相反，我们在2SQR模型中的发现表明资本与承保风险之间的关系为正，而投资风险与资本之间的关系则呈相反的模式。总体而言，2SQR比2SLS提供了更强有力的证据。

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