C-ROSS: Preparing for Solvency II with Chinese Characteristics

The Chinese insurance industry is one of the largest in the world and is growing fast. It is also an industry undergoing immense change, driven by economic growth, consumer demand and an active regulator. C-ROSS is the Chinese equivalent of Solvency II: a modern, risk-based regulatory capital framework which is expected to go into effect in 2015.

In this article we identify some of the strategic opportunities and challenges C-ROSS presents to the industry and provide a recommend action plan for senior management. We also compare C-ROSS with Solvency II and consider some of the “Chinese characteristics” of the draft regulations.

中国保险业的资本和风险管理体系正在发生改变，这一重大改变将对本土险企以及外商合资保险公司和投资者在战略规划和财务业绩方面带来一系列影响。

中国风险导向的第二代偿付能力监管体系(下文简称C-ROSS 或中国偿二代监管体系) 将于2015 年公布实施。新的监管体系将提高和完善中国保险业的资本充足要求，提升风险管理和公司治理水平，推动中国保险业偿付能力监管赶上甚至某些方面超过欧洲和亚太地区同类监管制度。

本报告首先总结中国产险行业发展现状，其次分析中国偿二代监管体系的核心要素内容，进而概要阐述新监管制度可能给中国产险行业带来的变化。在此基础上，报告从中国偿二代监管体系实施对险企CEO、CFO 和CRO 工作要求角度出发，提出了七项行动措施建议，旨在帮助保险市场主体积极调整适应新的经营环境。鉴于目前已公布的中国偿二代征求监管体系意见稿仅包括产险相关部分，本报告研究范围限于产险。未来在条件许可的适当情况下，奥纬将把研究对象扩大到寿险和综合性保险公司。