Summary: Analysing insurance capital is applied and between solvency immanent on the base that close, compared China and foreign countries to be approbated about solvency and asset wait for relevant superintendency system, and according to our country actual condition, outside drawing lessons from a country on foundation of relevant system experience, offerred relevant policy proposal.
Keyword: Safe; Capital is applied; Solvency; Asset is approbated

As our country insurance fund applies dimensions escalate and insurance fund to apply channel, scale to relax stage by stage, insurance fund is applied superintend change direction, pay attention to more will realize its risk to manage through the relevant superintendency system such as solvency.
One, solvency and insurance fund use superintendency relation analysis
Solvency and appliance of insurance fund movement have immanent unity of opposites to concern. Contrary one side is reflected in, strict solvency is superintended also manage with respect to the overall risk of can strict insurance company, will approbate through asset surely wait for a regulation to restrict insurance fund the investment of capital fund of danger, high to Gao Feng income, reduce the earnings that capital uses thereby; Conversely, if want to increase the profit that capital uses, be sure to increase the risk of insurance capital fund, also will naturally affect the solvency of insurance company. Its unified one side expression is in, need builds enough solvency to apply a foundation to go up in efficient capital, and risk capital applies Gao Feng to also must be premise with enough solvency. How to optimize ceaselessly concern between both, seek its best balance site, it is insurance fund handles superintendency main task.
2, solvency of China and foreign countries and asset approbate relevant superintendency system to compare
(one) solvency of China and foreign countries is superintended quite
1. American venture capital (RBC) superintendency method
RBC method serves as index with the rate of the actual capital of insurance company and venture capital, what be worth through index is fluctuant, decide what should adopt to superintend measure. Among them, of venture capital measure the main risk category that considered to affect solvency size, after the bulk that gets of all kinds risk, the combination consideration with fair repass gives the size that lowermost venture capital asks. The main risk that affects solvency size has: Affiliated enterprise risk, asset risk, price risk, interest rate risk and management risk, managing the directest and relevant venture with capital among them is asset risk. Asset risk points to the asset of insurance company hold, include the investment of the asset such as loan of pair of stocks, bond, mortgage and estate, the risk that the break a contact that is faced with or market price drop, but the capital loss that because interest rate is fluctuant,does not include to cause [1] . Asset risk affects asset value, but do not affect indebted, insurance company is OK the character according to all sorts of investment risks, come to negotiable securities of high quality of major asset invest in in order to carry dovish investment strategy control asset venture. Form through considering the particular risk of each company, venture capital method no longer constrained at the fixed requirement to insurance capital fund and profit, decide in the light of risk state lowermost capital asks however.
2. British solvency forehead spends superintendency method
British insurer solvency superintends a system to belong to more comfortable superintendency system, the factor that it considers is simpler, the operation rises very handy, but the management level demand that its are sure to superintend pair of industry self-discipline and insurance company oneself is very high [2] . The superintendency that England spends to solvency forehead basically has the following 3 respects: It is insurance company must maintain the legal solvency specified number with the risk uniform posture that assumes with its to spend. The 2 risks that are birthday risk business protect the forehead to come by its reserve and risk metric, the risk of business of the risk that be not birthday comes by income of its insurance cost or reparations defray magnanimity, the coefficient of every kinds of risk calculates the foundation of the model to go up in essence of life normally, experience repairs the basis to be decided correctly. The forehead spends the 3 actual solvency that are insurance company to be approbated for its asset and recognize indebted difference. Be in England, on one hand, stipulate through legislation asset evaluates method with what be in debt strictly, stipulate the computation of legal liability reserve and the estimate that approve capital fund are worth lowest namely; On the other hand, undertake the assessment of scientific discretion to the actual solvency of insurance company, with evaluating the actual solvency of insurance company well and truly the forehead is spent [3] .
Our country promulgated 2003 ” insurer solvency forehead is spent reach superintendency index to administer a regulation ” go up in solvency superintendency method, the lowermost solvency forehead that basically draws lessons from England spends a method, superintended specific provision to the solvency of insurance company. Main content cent is decided for solvency forehead metric and solvency forehead spends management two much.
(2) asset of China and foreign countries approbates a standard to compare
Actual solvency forehead spends insurance company be equal to approbate asset to subtract recognize indebted difference. Accordingly, but determine the fundamental premise condition of insurer solvency,insurance capital fund admits, also be the serious content that risk of insurance capital fund manages.
1. Asset of receivable insurance cost approbates standard comparison
The standard that city of American new York approves to asset of receivable insurance cost is, company of the risk that be not birthday did not exceed maturity 90 days, deduct the insurance cost in the collection process after handling commission. Outside insurance cost of company of the risk that divide life, set by concerned regulations period pay insurance cost. The relevant provision that England and asset of receivable insurance cost approve is, should plan accrual and hire, other should plan income and imprest. Our country stipulates receivable insurance cost points to the insurance business beyond business of long-term life insurance, answer by insurance contract provision temporary to policy-holder collection not the insurance cost of collection. The receivable insurance cost that Zhang age is less than 1 year is approve capital fund, zhang age is equal to or be more than receivable insurance cost of 1 year to approve capital fund to be not.

2. Fixed assets approbates the comparison of relative standard
The relative standard that city of American new York approves to fixed assets is, instrument of electronic data processing and the data processing that equipment forms related its, record stores or accounting system. Premise condition is any the cost of afore-mentioned systems is more than or be equal to 50 thousand dollar, in the time that and this cost can be in does not exceed 10 years by amortize. Plane, approving a requirement is to approve the person that had gotten superintendency to admit really according to superintending a standard beforehand. The provision that England approves to fixed assets is, land, building and praedial droit; Tangible fixed assets, land and building except. Our country stipulates fixed assets includes fixed assets net value, in build project and fixed assets remaining sum of quiet science purpose. Insurance company is pressed plan the amount after carrying fixed assets to decrease a value to prepare affirms approve capital fund. The highest amount that fixed assets thinks to approve capital fund truly controls capital, capital for the fact in the balance sheet fair indigestion, surplus is public the 50 ％ that accumulate 3 the sum.
3. Stock, equity invests asset to approbate a standard to compare
The relevant provision that city of American new York approves to capital fund of investment of stock, equity is, already proclaimed and outstanding stock extra dividend, unless its amount has been in,other side is allowed to regard as approve capital fund. The provision that England approves to capital fund of investment of stock, equity is, stock and share of other and alterable income. Investment of equity of our country regulation shows insurance company serves as by the partner of unit of investment, the capital of rights and interests that must be purpose place in order to get dividend income or capital benefit to undertake invests. Short-term equity investment presses valuation of low standard of cost and market price what and plan carry short-term investment to cheapen preparation; Long-term equity investment presses historical cost valuation and plan carry long-term investment to decrease value preparation. Equity investment is approve capital fund, but ” insurance law ” or ” regulation of foreign capital insurance company ” the equity investment that compasses hold violates after carrying out approves capital fund to be not.
Anyhow, our country approbates asset to be sure with new York city on detail law and England ” insurance code collection ” approbate asset to have some of distinction, but principle and design train of thought are consistent.
3, foreign insurance fund uses enlightenment of relevant superintendency system and policy proposal
Be based on the trade off study of above, to strengthen our country further insurance fund handles superintendency work, proposal from the following capital of perfect our country uses 3 fields superintend.
(one) draw lessons from England to pass solvency to use superintendency experience to insurance fund, capital fund of ceaseless and perfect insurance approves a standard, fund of our country insurance applies aggrandizement to concern with the linkage between solvency
England basically passes the solvency that superintends insurance company strictly, will assure the safety that insurance fund runs and efficiency. Insurance company needs every year to superintend authorities to submit financial report to insurance, insurance superintends authorities to also undertake to insurance company the spot is checked regularly. Once the solvency of insurance company under formulary level, be prohibited be engaged in investing an activity, get other punishment. As our country insurance fund applies channel and capital proportional relax, the investment capital fund that increases channel newly accordingly approves the work need follow-up and perfect. And, use the investment channel after scale relaxes to capital, according to its the risk changes, asset approbates risk discount scale to do the problem that adjusts accordingly to also be worth to consider. For example, our country applies since August 31, 2010 ” insurance fund uses government temporary measure ” the equity that adds newly and praedial investment, asset approves a provision related its need form a complete set and perfect; After the stock invests scale to relax, whether to need to adjust its asset to approbate risk discount rate to also be worth to consider according to risk change circumstance. Anyhow, these asset approbate the job to be able to use fund the change of the risk to the upper part of the body come out now in the solvency of insurance company, the investment scale of all sorts of venture capital that and also can be superintended through solvency of insurer of strict our country will promote insurance company to control capital to apply, be helpful for controlling insurance fund to manage a venture thereby.
(2) draw lessons from American RBC to superintend a method, proposal our country is perfected stage by stage use RBC to superintend methodological place to require fundamental condition
Our country should use venture capital method, the proposal basically perfects the fundamental condition of 3 respects: It is the coefficient of risk foundation capital that explores risk of asset of affirmatory our country. Investment risk fastens the difference between in the country very big, our country cannot the coefficient of risk foundation asset that United States of direct apply mechanically uses to asset. The coefficient of risk foundation capital that explores risk of our country asset should overcome the following difficulty, on one hand, at present the likelihood is in all sorts of investment tools on market of our country capital to did not produce bigger change, this kind of fluctuant possibility creates certain obstacle to quantify a risk; On the other hand, the grade orgnaization inside industry of our country insurance and grade system still remain to perfect, need its to be offerred surely really for risk coefficient reliable, valuable reference. 2 it is stepwise refinement indebted classification. Venture capital standard asks to undertake meticulous and accurate classification to be in debt, according to differring phyletic indebted feature and experience data decide different risk coefficient. The identifying that our country needs to refine pair of accept insurance risks, classification and metric job [4] . 3 it is progressively and perfect asset indebted management technique. Indebted management concept and technology are in asset our country remains to perfect, the allocation of capital and asset needs to be made clear further, in order to facilitate magnanimity interest rate changes the influence to solvency.

(3) refine the relevant provision that leads pair of insurance capital fund to invest classification to superintend amply according to solvency further
The proposal is aimed at the risk feature of capital fund of of all kinds insurance, refine the insurance capital fund that with solvency enough rate is a basis to invest superintendency classification further, progressively implementation leads more accurate to risk of insurance capital fund management amply according to solvency.
Announced in March 2009 according to our country ” the announcement that invests business about stock of normative insurance device ” and announced in September 2010 ” equity of insurance fund investment is provisional method ” and ” insurance fund invests praedial temporary measure ” wait for a regulation, invest about the stock, our country leads cent to be superintended into 3 kinds amply according to solvency, namely 150% above, 100% ～ 150% and 100% the following. Because our country rose on August 31, 2010,apply ” insurance fund uses government temporary measure ” the academic upper limit that raised stock individual event to invest, and the investment dimensions of the stock also develops quickly, below this kind of circumstance, if lead pair of stock capital investment to undertake amply according to solvency more refined classification is superintended, will more the investment risk that is helpful for controlling a share; The our country regulation about direct investment equity and praedial investment is, solvency leads end of on one financial year amply not under 150% , and quarterly end goes up when investment solvency is led amply not under 150% . Because equity and praedial investment have the difference is very big characteristic between investment project, its risk level also has very big distinction, proposal basis invests the integrated element such as the dimensions of the project, industry and area, enough to solvency rate undertakes more refined classification, realize the more accurate superintendency of pair of equity and praedial investment risk.

Bibliographical reference:
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[2] Ding Aihua. The main mode that foreign insurer solvency superintends reachs his to draw lessons from [J] . Journal of Nanjing audit institute, 2008, (8) .
[3] is strong. Control of insurance solvency inspect spends research [J] . Journal of Party school of Central Committee of Communist Party of China, 2010, (4) .
[4] Xiao Wen. Euramerican insurance solvency superintends those who consider to reach pair of our country to draw lessons from [J] . Zhejiang society is scientific, 2004, (11) .