本研究以模擬合併的方法，以銀行與保險公司的歷史資料，分析銀行跨業兼營保險可能的風險與獲利性。我們發現以股價資料及產業資料所模擬出來的結果，相當支持銀行兼營保險：獲利性會增加，標準差會降低，每單位風險的報酬率也會升高，更重要的是破產機率會降低。此外，若要有最大的整合效益，適當比例的產險業務是不可或缺的。以公司的會計資料所做出來的結果，也發現保險業務，尤其是產險業務，會降低銀行的破產機率。

　　　　　We use hypothetical mergers between banks and insurance companies to analyze the "would be" risks and returns of bancassurance in Taiwan. The mergers using the stock price data and industry-level data show that the insurance business would have increased the returns of banks, and decreased the bank risks as a whole Furthermore, appropriate portion of business in the property-liability insurance is indispensable to achieve the optimal integration. The results using companies accounting data also show that the business of insurance, especially the property-liability insurance, would have decreased the bankruptcy probability of banks.