The Investment Value Analysis Of Insurance Listed Companies Based On The Embedded Value

With growing economic of our country, people’s life is increasingly improved, ideas are constantly changing. People start to understand the insurance industry newly and the demand of it is increasing. Recently, a new round of "insurance law" amendment makes the insurance industry become more energetic. " The new ten strips of our country" of insurance loosen the restriction on a variety of new financial investment, and encouraging insurance companies to carry out a variety of ways of investment; It also proposed to further play the role of insurance companies, institutional investors, the stock market and bond market as a long-term stable development to provide the powerful support.The core business of insurance industry development as investment banking and insurance underwriting, made outstanding contribution in them for the development of the insurance industry. With the rapid development of the insurance industry, internal competition pressure is gradually increased, underwriting profit margin decline, not enough to ensure the stable operation of the insurance company. At this time, the investment business has become an important growth point of profit, made outstanding contributions for the development of insurance industry. Insurance companies, investors are most concerned about the problem is to measure insurance listing Corporation with what index value of the investment, how to control will face market risk, the insurance listing Corporation investment value how to rethink and objective and fair evaluation.When assuming the actual investment rate of return of investment income and the intrinsic value of the insurance company in the rate of close to, will the intrinsic value method. At present, the insurance company’s investment rate of return in roughly 4% to 6%, and the intrinsic value method is close to the assumption, therefore, the current stage of the market basic use is the intrinsic value method to the valuation. In this paper, by using the intrinsic value method, through the four listed insurance company’s annual report on the description and analysis of the data of the embedded value, thus obtains each insurance company investment value at present, and the index in 2015 through the MATLAB software to carry on the fitting, forecasting, draw the four listed insurance companies in the 2015 investment value. We hope that this paper can provide some reference for investors in the investment. In reading and studying a lot of literatures, this paper studied the investment value of four insurance listing Corporation, this paper is divided into five parts, each part as follows:The first part is the introduction, is divided into four parts, background management and significance of the research, domestic and foreign research status of embedded value, lack of innovation and the research mentality and the method of writing this paper and the existing.The second part introduces the principle of the embedded value valuation method, including embedded value concept and the composition, advantages and disadvantages to assess the value of using the embedded value, intrinsic value assessment methods and steps, determine the parameters of evaluating embedded value, analysis of changes in value and sensitivity analysis of intron.The third part is the application of the connotation of value assessment method, based on the four listed insurance company released the embedded value(including the effective business value and adjusted net assets) for data analysis and comparison, carries out the factor analysis by SPSS, obtains the investment value of four insurance listing Corporation at present.The fourth part of the data with MATLAB polynomial fitting that year and intrinsic value, the value of new business, effective business value, adjusted net assets, net profit and net assets income rate of six index of the function relation formula, obtained the index size of 2015, then the factor analysis with SPSS software, on the four listed insurance in 2015 the company investment value prediction.The fifth part of this paper discusses summary.