The Study of a Property-Liability Insurance Company for return on capital allocated

[[abstract]]產物保險公司衡量核保獲利能力均以綜合比率做為參考依據，且近年來保險監理機關也以風險資本額制度（Risk-Based Capital，RBC）來做為保險公司資本適足的規範，因此保險公司如何在業務經營、獲利及資本配置上作取捨已是當前的重要課題。本文以資本分配透過資本需求及資本報酬率的敏感度分析來探討如何在追求核保利潤及投資資金時並考慮到保險公司為維護足以支付保單持有人的未來賠款的資金安全性，就不同變數的變動來找到一個最適的變動區間，並透過邊際值來探討當前各險種對公司的貢獻度，在資本報酬率及邊際資本報酬率和敏感度分析的限制下，找出最需要調整的保費水準，並且結果發現保險公司各變數的最適變動範圍，來做為訂價及業績目標的參考。在保險公司中，其貢獻度最佳的險種如其它險…等險，而最需要調整保費的險種依序為：信用及保證保險、漁船險、航空險、車險，其次為船體險。[[abstract]]The reference foundation is combined ratio for appraise underwriting’s profit of property-liability insurance company, and Regulators regard RBC as the principle of capital adequacy for property-liability insurance company. So, how to select decision between profitability and capital allocated is the important question. The study using capital allocated and expected utility combine sensitivity analysis of capital required and return on capital allocated probe into the capital’s safety to pay policyholder losses. The study try to find the optimal change range according change difference variable and to discuss difference insurance’s contribution using marginal utility. The study also discuss the adjusted premium’s object. The insurance’s rank in contribution is Other insurance et al. The insurance’s rank that premium must is adjusted is Consumer’s credit loan insurance、Fishing Vessel insurance、 Aviation insurance、Automobile insurance and Marine Hull insurance