本文探討台灣壽險業於 2026 年同步接軌 IFRS 17 與新一代清償能力制度（Taiwan Insurance Solvency, TIS）後，兩岸制度差異對跨境壽險集團資本管理的影響。本文以 2024 年底公開統計資料為基礎，建構代表性跨境集團的資產負債管理模型；台灣母公司受 TIS 過渡安排約束，大陸子公司受 C-ROSS II 約束，模擬期間為 2026 至 2030 年。
情境分析顯示，在本文簡約式參數設定下，相同 200 bp 利率衝擊使台灣母公司有效清償能力比率的降幅明顯大於大陸子公司，反映 TIS 市場一致性評價與 C-ROSS II 平滑機制在風險認列速度上的差異。複合壓力情境則顯示，新台幣兌美元貶值 10% 會使台灣境外投資產生 P/L 匯兌收益，並推升台灣端有效清償能力比率；但該收益併入當期淨利後亦會提高股利分配，且外幣資產換算金額上升將放大 TIS 匯率風險資本計提。
本文並以影子比率與隱性風險缺口（SG_t）衡量 C-ROSS II 平滑機制延後揭露的市場風險，並以資本調度摩擦指標（capital mobility impediment, CMI）與 Ω 衡量跨境資本可移動性受限程度；其中 Ω 為各年度 CMI 折現後的累積值。整體而言，本文將接軌衝擊、過渡安排、平滑機制與跨境資本可移動性整合於同一動態模擬架構，作為跨境壽險集團評估資本緩衝與資本調度摩擦之參考。

This thesis examines how asymmetry between TIS and C-ROSS II affects capital management in cross-border life insurance groups after IFRS 17 and the Taiwan Insurance Solvency (TIS) regime take effect in 2026. The asset-liability model is calibrated to public end-2024 statistics, places the parent under TIS and the subsidiary under C-ROSS II, and simulates 2026–2030 scenarios.
Under a 200 bp shock, and within the reduced-form parameterisation, the parent’s effective solvency ratio falls more than the subsidiary’s, reflecting faster risk recognition under TIS market-consistent valuation than under C-ROSS II smoothing. In the compound-stress scenario, a 10% depreciation of the New Taiwan dollar generates P/L foreign-exchange gains on the parent’s overseas investments and raises its effective solvency ratio. These gains enter net income and the dividend base, while the translated foreign-currency assets increase the TIS currency-risk capital charge.
The thesis further uses the shadow gap (SG_t), the capital mobility impediment (CMI), and Ω to measure hidden risk and institutional friction. Here, Ω is the discounted sum of annual CMI values.

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