本研究以2000年至2017年台灣地區壽險公司為研究對象，探討壽險公司的外匯風險與衍生性金融商品避險對保險業外匯準備金的影響。實證結果指出外匯曝險對壽險公司外匯準備的影響，正外匯曝險與外匯準備呈顯著正相關，顯示正外匯曝險金額越大外匯準備金愈大，負外匯曝險與外匯準備呈顯著負相關，顯示正外匯曝險金額越小外匯準備金越小。 Focusing on life insurance companies in Taiwan and using the data from 2000 to 2017, this paper aims to investigate the impact of foreign exchange risk of life insurance companies and hedging of derivative financial products on the foreign exchange reserve. The empirical results show that when the foreign exchange risk of insurers is higher, it will have a positive effect on the foreign exchange reserve. Firm using the hedging of derivative financial products could significantly reduce the impact of the foreign exchange reserves. Finally, as insurers with lower foreign exchange risk and usage of derivatives for hedging jointly and significantly reduce the level of foreign exchange reserves.
