實施IFRS 9與IFRS 17對我國壽險業監理與經營影響之分析

The Impact of IFRS 9 and IFRS 17 on the Regulation and Management of the Taiwan Life Insurance Industry: A Preliminary Anlysis

我國保險業已於2018年開始採行國際財務報導準則第9號(IFRS 9)，而第17號準則(IFRS 17)預計將於2026年實施。本研究採用監理作法檢視、質化訪談及量化模擬分析，探討兩準則對壽險產業的影響與監理策略。研究結果顯示在保險監理上，主管機關主要採階段漸進策略減少接軌衝擊，並採業者自律、外部會計師協力及公司董事會治理等方法達到順利協助制度接軌的目的。在IFRS 9施行後，壽險業損益和業主權益波動幅度加劇，業者對高股利之股票持有意願提高，債券類投資處分利益的認列更有彈性。IFRS 17雖尚未實施，但量化模擬分析IFRS 9與IFRS 17同時施行的影響後結果顯示：壽險公司的收益波動及業主權益波動將顯著增加，推論壽險公司可能面臨負債大量增提且業主權益大幅下降的情形，此將使其負債金額極不穩定且破產機率增加。監理機關於訂定未來長期利率曲線時，應考慮臺灣壽險市場之特性，並宜採取更在地化的監理策略，以降低利率波動之影響。

The insurance industry in Taiwan has adopted IFRS (International Financial Reporting Standards) 9 in 2018, and IFRS 17 is expected to be implemented in 2026. In this study, we investigate the impact of these two standards on the life insurance industry in Taiwan. We review the supervision regulations, conduct qualitative interviews, and perform quantitative simulation analysis. Our results show that regulators are strategically moving in a phased manner in the context of industrial self-discipline, external accountants’cooperation and corporate governance to reduce the transitional impacts. Since implementation of IFRS 9, volatility of life insurance companies’profit and loss and owners’equity has increased; companies’willingness to hold high dividend stocks has risen; and recognition of bond investment benefits has become more flexible. Although IFRS 17 has not yet been implemented, simultaneous quantitative simulation of impact of IFRS 9 and IFRS 17 shows that both the fluctuation of income of life insurance companies and fluctuation of owners’equity will increase significantly. We speculate that life insurance companies may face a sharp increase in liabilities and a sharp decline in owners’equity, which will make their liabilities become extremely unstable and increase the probability of going into insolvency. The supervisory authority should consider the characteristics of the Taiwan life insurance market when formulating the future long-term interest rate curve, and adopt a more localized supervisory strategy to reduce the impact of interest rate fluctuations.