| First: The purpose and significance of the research on the regulation policy of life insurance investment Improper policy of supervision and regulation results in under-development of life insurance investment, which in turn restricts the development of China's life insurance industry and the competitiveness of life insurance companies. China is considered as the largest potential life insurance market for it has the largest population in the world. In recent years, with the rapid development of China's life insurance industry, the premium has increased quickly, but the economic benefits are not quite satisfactory partly because the investment to the life insurance is insufficient and inefficient. The investment to life insurance has been an important factor to the development of China's life insurance industry. Life insurance needs proper regulation and investment. The fund gathered in life insurance can be put to the national economic development which is good to infrastructure building, the development of West China, and the technological innovation. The input fund can also support the revolution of investment, social security and residential system, increase the solvency of life insurance companies, and promote the companies' competitiveness in the world. Life insurance companies are the important institution investors in the capital market whose standardization of their investment is of significance to the growth and maturity of China's capital market. Therefore under the background of international insurance, we shall combine the need of our national economic development, economic system revolution and financial market growth, start from the regulation theory of our life insurance industry and life insurance investment, and make effort to solve the problems in our life insurance investment and regulation, which is important theoretically and practically. Second: The line and structure of this thesis Due to the characteristics and function of life insurance, the fund of life insurance is different from the common fund on the financial market. As the main body of investment, life insurance company has its own characteristics different from other investors. The investment principles, ways, portfolio of life insurance, assets and liability management, and the governmental regulation of life insurance have their own features. This thesis starts from the characteristics and function of life insurance, combines the structural changes of life insurance industry with the usage of life insurance fund, and makes research into the governmental regulation on life insurance investment with the fundamental theories of insurance. Make the foreign things serve China and make the past things serve today, it relates the theory to the practice and discusses the development of China's life insurance investment under the conditions of socialist market economy. The first chapter is about the general situation of investment regulation policy on China's life insurance around the promulgation of Insurance Law. It also briefly introduces China's regulation policy on life insurance investment and analyses the reasons that the government chooses present regulation policy. The second chapter compares the international regulation policy on life insurance investment from the angle of legislation and fund usage structure. It also compares the investment returns of life insurance companies under different regulation policy. On such basis, it brings forward the third chapter: the influence of investment regulation policies on life insurance companies. Chapter 3 analyses the influence on life insurance companies' profitability and solvency because of the lack of investment tools. It also analyses the influence of investment regulation policy on life insurance companies' investment structure. Because of the narrow investment channel, investment returns is not enough to make up for the loss of insurance business. The difference of life insurance companies' present actual solvency and the low... |
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