| As the insurance management tendency abroad is considered, the insurance fund application has become an indispensable step in insurance management and provided the foundation of insurance industry to survive and develop, relating to both solvency ability and business stability. Insurance fund application in our country, though its importance is agreed on unanimously, is strictly ruled by present legislation. With the background of the government emphasizing macro control and rectifying financial system in the middle 1990s, the regulation of insurance law had rationality and would obviously put more emphasis on security of fund application and be more deliberate on its yield. But this regulation has some localization, which makes the insurance company unable to control return effectively or gain profit in it, but only to evade return. The result is the formation of serious return accumulation and circulation. As a result, Chinese insurance companies find it more and more urgent to explore insurance fund application methods.Fortunately, the reformation on insurance fund application policy has been under performance. Although the insurance fund application in our country has changed a lot in the last two years, the shared views in the theoretical field is that the reformation is far from success and more insurance fund application methods are needed. There is a series of problems to be further researched. For example, what's the shortcoming of the present indirect entrance pattern and how to improve it? What's the different influence on insurance company from indirect entrance and direct entrance? What's the requirement for direct entrance? How to choose direct entrance pattern and how to effectively manage the investment package? How to perform effective supervision on funds in the market? This dissertation is trying to have some discussion on the problems mentioned above.The research target of this thesis is not pure life insurance fund or property insurance fund, but Chinese commercial insurance fund. Targeting our insurance fund application, this thesis fixes the emphasis on improvement of indirect entrance pattern and the selection of direct entrance pattern according to the important role stock market plays in fund application and the possible policy tendency made by the regulators. It logically keeps the main idea of present situation analyzing; present pattern research, future pattern prospects and supervision system foundation. This dissertation is organized in four chapters.Chapter One mainly discusses the present situation of Chinese insurance fund application and how to find a way out of the difficulty. There is much malpractice in Chinese insurance investment. Firstly, too strict limitation on insurance fund application by present legislation and low utility ratio of insurance fund has resulted in too much idle capital. Secondly, the investment structure that the majority of invested assets are either cash or bank deposits is unreasonable. Thirdly, so little investment return makes the situation confronted by insurance industry even worse, considering that investment gains are principally composed of deposit interests, in the economic environment of continuous low rate. It is these disadvantages that have formed a deep risk accumulation under the action of insurance industry internal factor-vicious competition and external factor-rate's falling down as well. Because Chinese insurance industry is still in its beginning stage, comprehensive expense keeps on quite high, which has caused that insurers' profit reduces year by year even incurs loss. Chinese insurers have almost lost competitive power facing the challenge of the foreign insurers after China enters into WTO.Effective settlement step is to widen investment channels of putting insurance funds into profitable stock market under such condition, so that insurers can not only share national economic development achievements but also strengthen the ability of making profit in the long run.Chapter Two analyzes insurance f... |
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