普华永道ERM报告.pdfVIP

Embedding ERM — A Tough Nut to Crack An ERM Update on the Global Insurance Industry TABLE OF CONTENTS EXECUTIVE SUMMARY1 INTRODUCTION 3 SIX MAJOR FINDINGS 4 One: Embedding ERM is proving to be a signifi cant challenge 4 Two: Size matters 6 Three: European insurers are better positioned 7 Four: ERM is infl uencing decisions 8 Five: Economic capital standards are emerging 10 Six: Operational risk remains a weak spot 10 APPENDIX — Select List of Participating Companies 12 2008 Global Insurance Industry ERM Survey Report | 1 EXECUTIVE SUMMARY Towers Perrin’s fi fth biennial enter- fi fth believe they have an appropriate ERM is infl uencing decisions. Sig- prise risk management (ERM) survey capability in place for risk control, nifi cant numbers of respondents was conducted in May and June 2008 monitoring and reporting. indicate that their ERM program has against the backdrop of the develop- resulted in key business changes, Size matters. Larger insurers are ing fi nancial crisis. The survey reveals including such aspects as risk strat- signifi cantly more advanced in most six major fi ndings regarding risk and egy or appetite, asset strategies and aspects of ERM implementation and capital management among insurers