I.,. Big Bang...,.,..,. II. 1. 1995 16, 1531,. 1) (19861989 ) 1989. 1) 1997511, 2 44. - 1 -
I.,. Big Bang...,.,..,. II. 1. 1995 16, 1531,. 1) (19861989 ) 1989. 1) 1997511, 2 44. - 1 -
, 19805.2%199510.6%., 1996. <1> (:,, %) 1950 16 4 20 20 58.5 235 84.5 551 50.2 36 24.6 1955 16 4 20 91 35.4 764 26.6 2,242 32.4 192 39.8 1960 16 4 20 255 22.9 2,048 21.8 6,997 25.6 752 31.4 1965 16 4 20 741 23.8 7,345 29.1 24,417 28.4 2,243 24.4 1970 16 4 20 1,800 19.4 23,305 26.0 78,,230 26.2 5,854 21.2 1975 17 4 21 3,981 17.2 65,490 23.0 265,417 27.7 12,896 17.1 1980 16 6 22 8,226 15.6 76,238 3.1 572,328 16.6 26,657 15.6 1985 16 7 23 15,479 13.5 95,056 4.5 880,967 9.0 53,870 15.1 1990 16 10 26 26,881 11.7 175,541 13.1 1,595,308 12.6 130,251 19.3 1995 16 15 31 30,762 2.7 175,398 0.0 2,153,467 6.2 187,492 7.6 : 5., '95 ' 91'95. 1989,. 19891238,916 1990, 4., (Non - Bank ).., - 2 -
. 8 198845 199446.,., 1980,.. 1990 19952.75%. < 1>, 1995, 1980 19905% 3%. < 1>. - 3 -
1990(38.4% ), (7.8%) 52.4%, (22.1%), (13.0%) 44.2%199417.5%, 18.8%, 7.2% 34.3%(< 2> ).,,. <2> (: %) 1960 2.5 1.1 61.6 65.2-22.7-8.2 30.9 1970 1.6 2.2 67.1 70.9-19.6-7.9 27.5 1975 1.7 3.5 67.9 73.1-18.1-7.9 26.1 1980 2.5 10.6 59.7 72.8-17.2 2.5 6.3 26.0 1985 8.9 11.3 45.0 65.2 3.0 15.1 8.7 5.9 32.7 1990 6.2 7.8 38.4 52.4 3.6 22.1 13.0 5.5 44.2 1994 8.0 17.5 38.1 63.6 2.9 18.8 7.2 5.4 34.3 1995 7.3 21.9 36.3 65.5 2.3 17.2 7.2 5.3 32.0 : 1),. 2). 3) 19601989., 203.54%,., 1995 36.3%(< 2> ).,,,, 19861990513.1%, 12.6%, 11.7%, 19.3% (< 1> ). 1990, - 4 -
19911995 2.7%. 19.3%7.6%. 1980 1994 1, 6 (<3> ). < 3> 198419892.54, 1994 2.795.27. 5.27<3>7. <3> (:, ) 89/ 84 95/ 89 1989 1995 1989 1990 1991 1992 1993 1994 1995 3.07 1.42 7.35 3.57 1,540 1,663 136 716 279-411 163 3.61 1.22 7.12 4.65 1,088 1,139 411 2-198 -448 80 2.98 1.92 7.69 4.11 1,127 988 439 431 372-10 60 3.69 1.62 6.36 4.10 633 682 222 143 78-11 97 3.76 1.49 7.65 4.18 705 652 570 290 78-40 79 5.27 1.33 6.87 4.26 294 298 9 77 162-10 19 2.79 1.54 7.79 5.37 354 314 253 136 51-31 119 2.54 1.61 7.18 3.36 43,132 42,532 30,931 16,750 11,379 7,079 15,490 :. 2. 1996331 16 88 2). 2) 1909355 (). 19308, 1942 2. 1947820-5 -
< 4> (1995) (: ) 61,448 1 390,295 1 40,905 2 273,931 2 35,464 3 233,894 3 26,864 4 166,292 4 18,585 5 122,474 5 16,854 6 102,868 6 15,868 7 92,000 7 13,259 8 64,455 8 9,941 10 64,425 9 8,962 11 57,633 10 11,513 9 50,118 11 7,466 12 49,941 12 7,150 13 40,658 13 7,029 14 39,324 14 5,596 15 35,274 15 2,502 17 21,674 16 5,007 16 17,423 17 2,344 18 15,560 18 2,085 20 7,740 19 909 23 5,955 20 914 22 5,043 21 2,216 19 4,211 22 650 25 3,196 23 564 28 2,381 24 1,040 21 2,094 25 IN A 613 27 2,046 26 771 24 1,194 27 633 26 1,129 28 1989 1994. 91954. - 6 -
< 5> (:, %) (/ ) 1986 164,891 18.4 90,871 8.8 55.1 1987 354,601 115.1 106,716 17.4 30.1 1988 764,818 115.7 138,825 30.1 18.2 1989 459,634-39.9 168,561 21.4 36.7 1990 435,997-5.1 209,211 24.1 48.0 1991 420,562-3.5 254,368 21.6 60.5 1992 383,841-8.7 270,845 6.5 70.6 1993 346,161-9.8 267,582-1.2 77.3 1994 324,623-6.2 269,882 0.9 83.1 1995 315,849-2.7 323,752 20.0 102.5 :,,,,,,. 1995, 171,493( 173,373 ), 21,674( 21,461), 2,503( 2,525), 19( - 10). 1,217 (18, 1,199)82. 3,235, 803. 115. 3...,, - 7 -
.. 199619973 525 1,853 3), 350,.,,,,... 1991. <6>198890.0% 22.5%, 1988119.4% 21.4%... 19911995-5.1% 4). 3) 1,853(1,328 '973525 ), 10 500 2,35325. 4) 17 (9195) (: % ) 5.5 4.7 3.7 3.1 3.0 2.6 2.5 2.5 2.1 1.9 0.9-0.2-0.4-1.1-1.3-5.1-7.9-8 -
< 6> (: % ) ' 88 ' 89 '90 '9 1 '92 '93 '94 '95 () 10.6 7.4 8.8 9.5 10.3 10.9 10.0 10.2 () 0.1 0.1 0.2 0.2 0.1 0.3 0.6 0.1 6.9 12.4 13.9 15.1 15.5 15.9 16.2 15.6 119.4-45.9-13.2-4.9-12.5-7.6-3.8 3.2 90.0 23.0 14.0 4.8 4.3 3.7 2.1 1.0 () 7.6 6.4 7.0 7.4 8.0 8.3 8.3 8.6 () 0.6 0.4 1.2 1.2 0.9 1.0 0.7 0.7 13.7 13.6 15.2 15.5 15.0 14.4 14.2 14.2 2 1.4 6.3-4.1 3.4 4.6 2.9 0.3 0.9 22.5 19.7 12.1 8.8 8.9 8.4 5.2 5.4, 19886.9% 13.7%, 1994 16.2% 14.2%.,,.,..,.,. - 9 -
19911994 (<7> ). 1991-5.17%. 19951.51%. 1995 3%. <7> (: %) ' 88 ' 89 '90 '9 1 '92 '93 '94 '95 (A) 6.48 6.87 6.32 0.58 4.61 4.58 3.23 4.26 6.76 6.99 6.43 5.02 4.35 3.88 2.9 1 3.36 (B) 6.25 6.25 5.75 5.75 5.75 4.75 3.75 2.75 A - B 0.32 0.62 0.57-5.17-1.14-0.17-0.52 1.5 1 : 90 10., 198019905.75% 34%,.. 19885.5% 72.11%. 9.6% (<8> < 2> ). 1980. 199516.6%, 9.7%. - 10 -
< 8> () (:, %) ' 87 ' 88 ' 89 '90 '9 1 '92 '93 '94 '95 116,399 125,566 155,546 151,136 144,390 128,666 124,446 112,49 1 125,062 ( ) 36.6 17.9 4 1.2 46.1 46.2 47.1 49.3 46.3 50.0 150,035 503,354 147,707 93,866 73,212 61,744 40,928 4 1,07 1 4 1,599 ( ) 47.1 72.1 39.1 28.6 23.4 22. 16.2 16.9 16.6 2 1,2 15 2 1,988 20,416 21,579 22,942 24,720 25,793 26,659 27,232 ( ) 6.7 3.2 5.4 6.5 7.3 9.0 10.2 10.9 10.8 29,476 45,793 52,444 59,687 69,794 56,227 59,383 60,724 54,904 ( ) 9.3 6.6 13.8 18.2 22.3 20.6 23.5 25.0 2 1.9 976 1,307 1,476 1,609 1,562 1,566 1,577 1,573 1,463 ( ) 0.3 0.2 0.4 0.5 0.5 0.5 0.6 0.6 0.6 318,10 1 698,0 11 377,593 327,880 311,90 1 272,926 252,130 242,522 250,260 ( ) 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 <2> () ( ) 1995 37.3%. 10% (<3> ). 1988, 1980-11 -
. < 3>.,...,,., 84-12 -
, 5). <9>, 841991, 1992 1995148. 84. <9 > 84, (: ) 1989 1990 1991 1992 1993 1994 1995 84 0.12 0.04 0.01 50 50 15 148 720 834 298 325 360 265 378 148 556 332 240 147 56 100 480 239 903 284 204 323 12, 84 <10>,.. 19973 ( )1,328 6%. 1,482, 101994 6). <10> (: ) 1993 1994 1995 1996( ) - 1,218-1,571-982 - 897-5 - 15-143 - 136 262 104-189 - 295-961 - 1,482-1,314-1,328 :. 5) 27 198945199035, 199 125, 199289 1/310. 6) 19953,, 7. - 13 -
1990.., 19973 1,853( 5002,353), 350.. III. 1... ( 241 271). <11> <4>. - 14 -
1990.., 19973 1,853( 5002,353), 350.. III. 1... ( 241 271). <11> <4>. - 14 -
< 11>,,,, 241,.,, 247. 250.. 251, 256., 257. 266. - 15 -
< 4>,, ( ) ( 1/ 10) (1/ 10) ( 1/ 5) (1/ 5) - 16 -
. 1996,,.,...,.., 1... 1 2, 3..,,.,,,,.,. <5>. - 17 -
< 5> -, - : 2, 3,.,. 2.., 425,.. 4259 2,000241. 11,.,,,,. - 18 -
...,...,. 428,, 5., 7,, 30., 2,.. 513,,.,. < 12>. - 19 -
< 12>., 8 500 2,000 43500 160,, 2,,,. 160,. 2,000,.., 3. 19963 8 74.5%. 2,000, 404, 274 0.1%. 8 < 13>. - 20 -
< 13> (: %, ) 8 20.2 13.7 11.8 8.7 6.3 5.5 5.0 3.3 74.5 100.0 404 274 236 174 126 110 100 66 1490 2,000 : ' 963., 2,000, 250,, 513.,.,, 8 500.,,... 7.,. 6 7. - 21 -
IV. 1....,.,..,...,.,,. - 22 -
,. 19964,... 3..,. 111,,.,,.., (<14> ).,.. 19981999-23 -
.,. <14> (19963) (: %) 1 2 3 1 2 3 1,281 322 128 1,167 425 254 1,011 310 124 335 96 23 705 298 109 353 147 77 1,227 288 136 1,293 324 132 796 238 90 489 171 86 616 236 77 139 84 34 925 318 169 714 136 75 394 115 59 1,137 204 97 1,403 399 188 1,907 173 82 466 209 88 293 90 28 : 1) 1. 2) 21,,. 3) 32....,,,..,,, 9-24 -
1990 1995<15>.,.,,.. <15> (: %) / 1990 42.7 2.1-3.1 8.8 105.2-13.2-3.1 98.7-2.9 1991 58.9 0.2-24.4 9.5 105.1-4.7-17.9 96.7-12.8 1992 76.8 1.5-37.8 10.3 104.4-12.5-6.7 98.5-7.7 1993 84.1 1.5-21.8 10.9 103.8-7.7-8.5 98.4-7.5 1994 88.5 1.0-20.3 10.0 102.9-3.7-9.9 97.8-7.8 1995 108.1 1.2 44.8 10.2 103.6 3.2 2.0 97.7 1.1 185 % 2100% 8.5 % 1) (3.1%) -50% 10.5 % 80% -10% -50% 60% -50% 6.0% 1) (2.2 %) -95 % 25.0% 65 % -20% -95 % 50% -90% : 1) 3.1%(8.52.75/ 7.5=3.1) 2) (, ). 3)...,,. - 25 -
2.. '80' 975 33. ' 944. ' 90' 93..... ENT,.. 50%.,. - 26 -
< 16>. 1992 5%199560.9%. 50%. <16> (: %) 1988 1989 1990 1991 1992 1993 1994 1995 49.2 64.4 65.0 69.1 72.6 67.5 62.1 57.6 100 93.1 89.1 85.5 79.6 71.8 67.1 99.9 95.9 91.1 84.8 77.8 68.7 65.2 92.6 93.8 85.1 87.3 84.4 85.4 80.7 79.2 97.4 41.5 56.6 58.2 53.8 42.2 31.6 92.6 98.1 91.5 88.8 84.8 79.6 73.4 70.1 49.8 66.7 68.4 72.0 74.8 70.3 65.1 60.9 :,,,.., 1990,,.,,,.,,., (liability)., - 27 -
.,. (, ) - 28 -
[ ] (192688) 20C. 1926 28. - 2, 10, 16. -,,,. -, 1927-1928. -, - 1927,, - 1928. - 1929 -, 1935. - 1939 () -, ( ) - ( ) - 1931. - 1941-1941( ) - -, 1942 1942-1942 - 1943-29 -
- -, - 193020% -, -. - 1933( ) - 1927. - 1933( ) - 1927 15 -. - 1933-1933 - 1933-1933 - 1933 ( ) (, ) -, 1936 () -,,,. - 1941 - - 1941 1942. - 1944-1948 - (19725),,, - 1972-1973, - 1975-30 -
< 1> -..,,. - NAIC.,. -.,,. -,,. -., NOLHGA. -. -,. - -,,.. : NOLHGANational Organization of Life and Health Insurance Guaranty Association. - 31 -
< 2> - 32 -
( ) -,, -,, <> < > - (, - -,, ) - <> - -, - - - -, - - A: () - ( B: ): ( C: ) - : : - : - : - A: $200 - : 1% $5,000 - B, C: - - : 2% : 5 2-0.5% $5 1/ 2 2 1/ 4 - : $30 - : $20 - : $ 10 -, : $6- - : ( $ 10 - ) : $6 - - - (, 1,000 ) - 33 -