| China's insurance industry has been lagged behind, especially in the planned economic system. The insurance company once rely on improving the high rate of premium to win the profit in order to survival and development.A huge premium income has not been enough put emphasis on, which lagged far behind the western developed insurance markets. The backwardness of this theory and practice has led to current inefficiency of use of China's insurance funds,and it severely limits the development of the insurance industry. In the case of intensifing competition of the insurance market, the survival and development of insurance companies has been facing enormous challenges,because profit is the driving force behind the survival and development of insurance companies.Although the scale of the insurance companies and he underwriting revenue is gradually growing,the profit gradually decreases or was in a loss situation. There has been an urgent need to improve the return on investment of insurance funds to compensate for underwriting losses to a great extent.There has been mang reases, which mainly have been the narrow channels of China's insurance investment , stringent regulation of the use of insurance funds, the unreasonable investment ratio due to the low ability of insurance companies to manage the assets of insurance funds.The investment tools and the investment ratio of China's current insurance funds have been gradually liberalized, but they still severely limits to some extent the further development of the insurance market. The insurance companies have been facing great risks in the process of use of insurance funds. Therefore, determining the optimal ratio of investment of insurance funds,giving analysis of and address these causes ,as well as controlling of the risks faced by the investment have become important issues which have been resolved in much-needed in the process of the use of insurance funds. Based on this, the article studies the investment optimization of insurance funds in order to mainly determine the optimal investment ratio of insurance funds. This paper applies a combination of research methods which have been the empirical analysis and theoretical analysis . First of all, the insurance funds and the theory of the use of insurance funds have been expounded.What have determined the investment ratio of insurance funds depend on the premise that different insurance funds have different characteristics.Secondly,build the model of investment optimization of insurance funds.This theoretical analysis can measure and calculate the investment ratio of insurance funds and scope of certain quantitative.Using the relevant data of Ping An of China to test and verify this model. The empirical conclusion of his analysis Ping An of China will have some guiding significance in practice, because the data used by empirical analysis is real and the investment tools are permitted by our government.The yields which are in line with the market realities of all types of investment tools are determined by the historical inductive method.The investment status between the China's insurance funds and the United States' insurance funds are conducted a comparative analysis after that. From that we can see that China's insurance investment is relatively backward.The insurance funds investment structure is not enough rational. The investment ratio of insurance funds is not enough optimization . There is a need for further liberalization in insurance investment channels.The proportion of investment instruments need to be further de-regulated in restrictions. The investment process risks which is mainly reflected in the proportion of their investment.Due to investment instruments and investment restrictions region, investment risk must relatively concentrate. Once the risk has release , serious consequences would happen. In the financial crisis era, our insurance companies should draw profound lessons from AIG which was taken over.We should optimize the investment structure of insurance funds and effectively control of its risks.The policy suggestes have been raised based on the investment optimization of insurance funds,for example, actively broaden the investment channels for insurance funds , strengthen the ability to manage the asset,determine the duration of investment according to the liability features, set up a special companies to manage assets, strengthen China's capital markets. These measures are aimed at China's current situation and steer our practical operation.This will certainly solve the issue that the investment structure of insurance funds has been unreasonable.Great practical significance are afforded for our insurance industry.In addition, due to the difficulties to collect data,which is taken by Ping An of China, its life insurance business and property insurance business have not been separately measured in empirical analysis.So optimal investment ratio is the Group' conclusions. Due to characteristics of life insurance business and property insurance business are different in practice, there is no separation to determine investment ratio of insurance funds.That is drawback of this article.There are two main innovations of this article.First of all, the use of the corresponding data, such as stocks, bank deposits, bond yields, could calculate the best investment radio of insurance funds in practice.That will be produced a great guide for China's insurance industry . This will greatly enhance to some extente the efficiency of use of insurance funds. Secondly, in the financial crisis era, China's insurance companies would actively learn the profound lesson from the insurance giants such as AIG which was taken over.The corresponding policy recommendations are put forward on this basis.These policy recommendations are made for the status quo of China's ,so it has a certain practical guide and will effectively control risks in the process of investment of insurance funds. |
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