Reinsurance - M97（Dip级30学分，选修）-《再保险》
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（前述章节【Dip系列课程】M97-第九章-再保险市场B1A下）
B1B International（国际市场）
Underwriting Association of London (IUA) The IUA is the representative organisation for international and wholesale insurance and reinsurance companies trading through London. It is both a trade association, representing its members’ interests internationally and a market association supporting the business environment in London. The IUA’s key priorities are to:
• improve the efficiency of doing business in London;
• advance the development of market expertise and innovation; and
• influence public policy and compliance developments.
伦敦承保协会 (IUA) IUA 是通过伦敦进行交易的国际和批发保险和再保险公司的代表组织。它既是一个贸易协会，代表其成员在国际上的利益，也是一个支持伦敦商业环境的市场协会。IUA 的主要优先事项是：
• 提高在伦敦开展业务的效率；
• 促进市场专业知识和创新的发展；
• 影响公共政策和合规发展。
The non-Lloyd’s London Market was estimated to have been worth £30.114bn in terms of gross written premium income in 2021 according to the IUA’s latest figures, set out in its London Market Company Statistics Report 2022. Adding £5.540bn of gross written premiums controlled by the London company market but written elsewhere gives a total of £35.654bn.
根据 IUA 在其《2022 年伦敦市场公司统计报告》中列出的最新数据，非劳合社伦敦市场在 2021 年的毛承保保费收入估计为 301.14 亿英镑。加上由伦敦公司市场控制但在其他地方承保的 55.40 亿英镑毛承保保费，总额为 356.54 亿英镑。
Governance（治理）
A company limited by guarantee, the IUA is governed by a board of up to 20 people, consisting of the chief executive and representatives elected annually by rotation by its full membership. Those so elected tend to be chairpersons and/or chief executives of insurance and reinsurance companies or other senior market figures. A number of standing committees oversee the main work of the association and report to the board.
IUA 是一家担保有限公司，由最多 20 人的董事会管理，董事会由首席执行官和代表组成，这些代表每年由其全体成员轮流选举产生。当选者往往是保险和再保险公司的主席和/或首席执行官或其他高级市场人物。一些常设委员会监督协会的主要工作并向董事会报告。
The following shows the three categories of membership available within the IUA.
• Ordinary - Denotes full membership status with voting rights and an active involvement in the governance of the association. Ordinary membership is open to international and wholesale insurance and reinsurance companies operating in or through London.
• Affiliate - Caters for London Market companies that are either in run-off or that provide professional services to the association’s Ordinary members. Affiliate membership offers the benefit of the IUA’s information services without the burden of supporting other services aimed directly at active London company market insurers and reinsurers. In addition affiliate members may also, where appropriate, take part in the IUA’s committee activity, but have no voting rights.
• Associate - Open to insurance and reinsurance companies outside London. Associate members may attend the association’s annual general meeting, but have no voting rights. They receive a basic publication service.
以下显示了 IUA 内可用的三类会员资格。
• 普通会员 - 表示具有投票权并积极参与协会管理的正式会员身份。普通会员面向在伦敦或通过伦敦运营的国际和批发保险和再保险公司。
• 附属会员 - 为伦敦市场中处于清算阶段或为协会普通会员提供专业服务的公司提供服务。附属会员可享受 IUA 的信息服务，而无需承担支持其他直接针对活跃的伦敦公司市场保险公司和再保险公司的服务的负担。此外，附属会员还可以在适当的情况下参加 IUA 的委员会活动，但没有投票权。
• 关联会员 - 面向伦敦以外的保险和再保险公司。关联会员可以参加协会的年度大会，但没有投票权。他们获得基本的出版服务。
B2 Continental European markets（欧洲大陆市场）
At the core of the European reinsurance markets are the professional reinsurance companies. Once, the largest of these were to be found in Germany (where the oldest existing reinsurance company, Cologne Re, now part of General Re, still operates). Major European reinsurance companies include Swiss Re, Switzerland; Munich Re and Hannover Re in Germany; SCOR in France and Mapfre in Spain.
欧洲再保险市场的核心是专业再保险公司。曾经，其中最大的再保险公司位于德国（现存最古老的再保险公司科隆再保险公司（现为通用再保险公司的一部分）仍在德国运营）。欧洲的主要再保险公司包括瑞士的瑞士再保险公司、德国的慕尼黑再保险公司和汉诺威再保险公司、法国的 SCOR 和西班牙的 Mapfre。
Regulation（监管）
Under the EU Reinsurance Directive, EU reinsurers are regulated by their ‘home state’ and are granted a passport to write business throughout the EU. The Directive also heralded the arrival of the Solvency II legislative programme.
根据《欧盟再保险指令》，欧盟再保险公司受其“母国”监管，并被授予在整个欧盟开展业务的护照。该指令还预示着偿付能力 II 立法计划的到来。
Solvency II introduced a new, harmonised EU-wide (re)insurance regulatory regime into all Member States. It replaced the existing thirteen EU insurance directives (including the EU Reinsurance Directive). It has four objectives:
• improved consumer protection;
• modernised supervision;
• deepened EU market integration; and
• increased international competitiveness of EU (re)insurers.
偿付能力 II 为所有成员国引入了一个新的、统一的欧盟范围的（再）保险监管制度。它取代了现有的十三项欧盟保险指令（包括《欧盟再保险指令》）。它有四个目标：
• 改善消费者保护；
• 现代化监管；
• 深化欧盟市场一体化；
• 提高欧盟（再）保险公司的国际竞争力。
The Directive is based on a three pillar approach:
• Pillar 1 Requires (re)insurers to demonstrate that they have adequate financial resources. All reinsurers are required to maintain reserves and, in accordance with two solvency requirements (namely, the solvency capital requirement (SCR) and the minimum capital requirement (MCR)), capital and to comply with certain rules on investment.
• Pillar 2 Deals with governance, internal controls and risk management processes.
• Pillar 3 Deals with public disclosure and regulatory reporting.
该指令基于三大支柱方法：
• 支柱 1 要求（再）保险公司证明其拥有足够的财务资源。所有再保险公司都必须维持储备金，并根据两项偿付能力要求（即偿付能力资本要求 (SCR) 和最低资本要求 (MCR)）维持资本并遵守某些投资规则。
• 支柱 2 涉及治理、内部控制和风险管理流程。
• 支柱 3 涉及公开披露和监管报告。
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