If the Insurance Business Law Project (amended) is approved, insurance enterprises will have to meet the provision of professional reserve and ensure capital adequacy ratios according to the Ministry of Finance's guidance . Foreign investors wishing Vietnam to continue to open foreign room in the field of insurance in accordance with national practice in the past 9, the Standing Committee of the National Assembly discussed, commenting on the Business Law project Insurance (amended), of which the capital management model on the basis of the risk has been selected applied. According to the current regulations, the required capital levels of insurance enterprises are calculated based on carefully backup Art or insurance amount and insurance revenue. However, according to the Ministry of Finance, these bases do not take into account the level and different types of risks. Therefore, in the draft Law on Insurance Business (amended), the risk management model has been added to its addition to closer regulations on payment and charter capital indicators in the field Insurance business
. When the new law was issued, based on the level of capital adequation of each insurance enterprise, the Ministry of Finance shall apply 3 measures including: improvement, early intervention, control, instead of Only interfering when the business has at risk of losing the ability to pay as ever. Lesses. Nguyen Dinh Huy - National University of Ho Chi Minh City
Ho Chi Minh City thinks that the application of capital-based management models with insurance enterprises is essential and in accordance with international trends. Because now, insurance enterprises only have to maintain the minimum equity level, not lower than the legal capital of VND 600 billion. This capital is not large compared to other financial sectors such as banks and financial leasing companies. Meanwhile, insurance enterprises will have different business scale and obligations. If only the above minimum capital response is inappropriate and does not guarantee the ability to pay. Tissues are active and overall risks that can affect business activities of each enterprise. Currently, insurance enterprises are considered to be afford to pay when fully setting the insurance operations and have the likelihood of payment not lower than the minimum payment lobby. , Insurance enterprises are now financial investors. Therefore, the supervision of payment lobilization does not reflect all risk factors such as market risks, interest rates, business risks. Therefore, the enterprise capital management model if changed should be built on the basis of 4 types of risks: insurance risks, asset risks, concentration risks and risks of operation
This model currently applied in Singapore is quite successful and can be adjusted to conform to Vietnamese market practices. Power and opportunity to increase capital by SSI Securities Company, if the capital management model on the basis Risks (RBC) are selected to apply, the required capital for insurance enterprises will be greater and the total capital of enterprises will also change more suitable for practicality. For example, asset valuation, when applying RBC assets of enterprises will be calculated according to market prices instead of book value. Since then, the property has many businesses will increase significantly when managing capital on RBC. in the capital adequacy perspective, according to SSI, the majority of insurance enterprises in Vietnam have a higher payment capability Minimum, even 10-30 times in newly established businesses. Thus, the difference between property value and payable debts is quite large and few businesses are at risk of losing the ability to pay. However, if the capital management model in accordance with RBC is applied, some businesses will be under pressure to increase their own capital to ensure the appropriate risk factor, especially inland insurance enterprises. Because in the last few years, increasing capital is mainly based on accumulating profits, but the number of new shares issued is quite small. Equity increased mainly thanks to the group of foreign life insurance enterprises. Although under pressure to increase capital in the long term, most financial professionals believe that insurance enterprises will not be too excessive Dynamic, due to the draft Law on insurance business provides a 5-year roadmap for the application of RBC capital management model. In which, the first 3 years of enterprises are allowed to apply the model available to calculate, determine the amount of capital on the basis of the risk must have, the capital is available and the capital must be supplemented to adjust accordingly. In addition, at a market perspective, in late August 2021, the Ministry of Planning and Investment has officially updated "market access conditions" in 59 industries, including insurance sector on the portal Country of investment. According to the information of the Ministry of Planning and Investment announced, the insurance business (including commitments in the Agreements such as WTO, CPTPP, EVFTA, VKFTA or under Vietnamese law) are "unlimited" billion The ownership of the house . Dịch vụ:
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