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目前我国的寿险行业踏入兼并、并购、股改的战略调整经营阶段。由于寿险公司经营的特殊性,其收入和支出难以在时间上实现配比,因此不能利用传统的市盈率法来评估保险公司的价值。目前国际上开始使用内含价值来评估保险公司的价值,内含价值作为一个精算概念,是对公司有效业务价值的评估,没有考虑公司未来新业务价值,即商誉。内含价值加商誉才等于寿险公司的评估价值,所以商誉是寿险公司价值评估体系的重要组成部分。
At present, China’s life insurance industry enters into a phase of strategic readjustment of mergers and acquisitions and stock reform. Due to the particularity of the life insurance company’s operation, its income and expenditure are hard to be matched in time, so the traditional price-earnings ratio method can not be used to evaluate the value of insurance companies. At present, the embedded value is used internationally to evaluate the value of insurance companies. Embedded value, as an actuarial concept, is an assessment of the effective business value of a company without considering the future business value of the company, namely goodwill. Implied value plus goodwill is equal to the life insurance company’s appraisal value, so goodwill is an important part of the life insurance company’s value appraisal system.