The thesis is focused on the characteristics and form of captive insurance. It discusses the advantages, and the use of captive insurance companies. Emphasis is also different types of insurance and legal and tax treatment. The work also includes a view of the captive insurance in the Czech Republic and the future development, including issues and trends that are associated with it.

This thesis has as its main goal the objective analysis of the potential for captive insurance risk management in specific situations and market analysis of captive insurance. It uses a description of the history and development of this sector, addressing the advantages and disadvantages, which helps to reflect on the usefulness of this tool. Furthermore, the analysis of that market, location options of captive insurance companies and types of captives are described here as well. A large part of this work is the concept of the life cycle of captive insurance companies. It contains general conditions that are necessary for the creation of captive insurance companies. Finally, the thesis deals with trends, provides a view of the future and present regulation of the sector.

Final qualification work (master thesis) devoted to the study of the insurance market and the problems of captive insurance companies at the present stage. The need and relevance of the research is that the mechanism of redistribution of risks involves the creation of the consolidated insurance Fund at the expense of contributions of policyholders, with further payments in case of insured event. In most cases, this mechanism applies to an unlimited circle of persons, but there are captive insurance companies are for insurance in advance certain circle of persons affiliated to the owner or owners of the insurance company. In this regard, the main objective of the master thesis is to develop a strategy for the development of captive insurance companies, to identify the factors influencing the development of captive structures in modern Russian economic conditions on the basis of the study of economic bases of functioning of captive insurance companies. Methods research are the methods of theoretical and empirical knowledge of the operation of captive insurance companies. In conclusion, the labeled recommendations for the improvement of the management system captive insurance company for the successful development of captive insurance structures in Russia. / Выпускная квалификационная работа (магистерская диссертация) посвящена исследованию рынка страховых услуг и проблемам деятельности кэптивных страховых компаний на современном этапе. Необходимость и актуальность научного исследования заключается в том, что механизм перераспределения рисков предполагает создание консолидированного страхового фонда за счет взносов страхователей, с дальнейшим осуществлением выплат в случае наступления страхового случая. В большинстве случаев этот механизм действует в отношении неограниченного круга лиц, но существуют кэптивные страховые компании, предназначенные для страхования заранее определенного круга лиц, аффилированных собственнику или собственникам страховой компании. В связи с этим основной целью магистерской диссертации является разработка стратегии развития кэптивной страховой компании, выявление факторов, влияющих на развитие кэптивных структур в современных российских экономических условиях на основе изучение экономической основы функционирования кэптивных страховых компаний. Методами научного исследования выступают приемы теоретического и эмпирического познания функционирования кэптивных страховых компаний. В заключении обозначены рекомендации по совершенствованию системы управления кэптивной страховой компанией для успешного развития кэптивных страховых структур в России.

台灣產險公司正面臨日趨多樣的核保風險，新興風險的不確定性促使保險公司經理人高度的依賴再保險機制。既然保險公司高度的依賴再保險機制，或許有人會質疑，再保險機制是否為最適的風險管理策略？ 隔離資產型風險防護公司(Protected Cell Company, PCC）之運用，乃是近年來企業風險理財的重大變革之一，本文之目的即是要探討PCC之架構以及分析PCC運用於台灣產險業之可行性。 本文將分析重點放在PCC運用在租賃性專屬保險（rent-a-captive）的可行性分析上，藉由分析其風險成本，來探討PCC作為租賃性專屬保險時，是否比商業再保更具有成本效益。 藉由實證分析結果，本文發現除了巨災風險、尖端風險（peak risks）及其他具高損失幅度可能性之業務外，PCC作為租賃性專屬保險時，PCC會比商業再保更適合於產險公司。本文亦發現PCC運作的時間愈長，愈能節省其風險成本。此外，本分析亦指出在PCC為純粹專屬保險的前題下，符合監理機關的最低設立資本要求會是PCC之最適設立資本。 / Because Taiwan’s non-life insurance companies now face an increasing array of underwriting-risks, the high uncertainty may cause insurance company managers highly depend on reinsurance mechanism. One may doubt that whether reinsurance mechanism is the optimal risk management strategy although it is the most frequently utilized approach. The purpose of this paper is to explore the structure of PCC and analysis the feasibility of PCC for Taiwan’s non-life insurance industry because the use of Protected Cell Company（PCC）structure is one of the most significant developments in the world of corporate finance and risk management during the recent years. This paper will focus on the feasibility of PCC when it is used as Rent-A-Captive, based on the analysis of cost of risks, to study whether PCC has better cost efficiency than reinsurance mechanism. The finding of this research shows that PCC as rent-a-captive is more suitable than commercial reinsurance for non-life insurance company except catastrophe risks, peak risks, and high loss severity business. It also finds the longer we use PCC as rent-a-captive, the more we can save its cost of risks. Besides, the analysis indicates that paid-up capital of PCC which just meets the minimum capital required by the regulation will be optimal in case PCC is a pure captive.