《保险研究》20251002-《保险资产风险分类研究——基于我国实践的分析》（国家金融监督管理总局保险资产风险分类课题组）

［摘   要］保险资产风险分类是风险管理的重要环节，对保险公司的稳健经营发挥重要作用。2024年，我国金融监管部门借鉴国际监管和商业银行实践，修订发布了《保险资产风险分类暂行办法》，完善资产分类标准，强化穿透原则，完善组织实施管理要求，体现了稳健审慎、从严监管的导向。本文梳理了保险资产风险分类的相关研究和实践，分析了我国银行与保险资产风险分类的异同以及保险资产风险分类的监管逻辑和制度创新点，探讨了制度实施后保险公司面临的主要挑战，并提出监管体系完善建议。

［关键词］资产风险分类；信用风险；市场风险；穿透原则

［作者简介］国家金融监督管理总局保险资产风险分类课题组成员：王胜邦、杜墨、杜林、邱雪。

The Research on Risk Classification of Insurance Assets

Research Group on Insurance Asset Risk Classification，National Financial Regulatory Administration

Abstract：Insurance asset risk classification is an important component of risk management and plays a significant role in ensuring the stable and prudent operations of insurance companies.In 2024,regulatory authorities of China′s financial industry revised and issued the Interim Measures for the Classification of Insurance Asset Risks by drawing on international regulatory practices and the experience of commercial banks.These measures improve asset classification standards,and strengthen the principle of penetration and implementation management requirements,reflecting a prudent and cautious regulatory orientation with stricter supervision.This paper reviews relevant researches and practices in insurance asset risk classification,analyzes the similarities and differences between bank and insurance asset risk classification in China,and explores the regulatory logic and institutional innovations in insurance asset risk classification.It also discusses the main challenges faced by insurance companies after the implementation of the measures and provides recommendations for improving the regulatory framework.

Key words：asset risk classification;credit risk;market risk;the penetration principle