Study Of China's Life Insurance Risk Securitization Operation Mode

The life accepting insurance risk securitization is the kind of instruments, with which Life Insurance Company tries to transfer operation risk to capital market, and then the company evades risk by trading between each other in finance market. As a new instrument with the function of financing and evading risk, it can not only improve liquidity of life insurance Company's capital and lower the cost of its capital, but also enlarge the ability of resisting risk, then conducive to life insurance Company's development, therefore, in an extent replace the traditional instruments. With the success of products in the international market, the tendency of integration between capital market and life insurance markets will become necessary. At present, the traditional evading risk tools can't evade the risk, therefore, the development of capital market and life insurance markets together would be the requirement of financial system, and also the necessary choose after our country entrance's to WTO. We should learn the successful experience, and try to practice the life accepting insurance risk securitization on the basis of present condition.On the basis of deep analysis of underwriting risk, the thesis does some research on insurance risk securitization and product pricing in the aspect of actuarial techniques of product R&D, then analyzes the confronted risks and the influential factors in the operation of Life Insurance Company. The thesis gives an analysis on the feasibility of bringing the securities technology into the life insurance industry throughout the research on the operation pattern of insurance risk securitization of foreign life industry, and the combination of the life insurance market and the present situation of the capital market, puts forwards the operation pattern of insurance risk securitization in the life industry of our country. The research shows that there are three operation patterns in the insurance risk securitization of life insurance Company, the kind of insurance risk securitization for financing, the kind for risk transferring and the kind for product choosing.