| In 1980,China's insurance industry was officially resumed.After nearly 40 years of development,China's insurance funds investment has been continuously improved and achieved great achievements.Insurance investment channels have been continuously expanded,investment types have become more abundant,and the insurance investment portfolio has changed from an early single model to a diversified model,but at the same time,the difficulty of controlling portfolio risks has increased.How to build an effective insurance funds investment portfolio and improve the investment income of insurance funds is still a major challenge for China's insurance development.This paper combines the actual situation of China's insurance investment to conduct research.The article is divided into five chapters: The first chapter introduces the background and significance of insurance funds investment,and sorts out some literatures related to domestic and foreign research,and systematically expounds the insurance investment theory.The second chapter analyzes the investment data of insurance funds in China in recent years,and discusses the current situation and existing problems of insurance investment in China.The third chapter first introduces the Markowitz portfolio model.It is analyzed that the model is suitable for China's insurance funds investment.On this basis,the model is improved,the underwriting factors and the large-scale supervision ratio constraints are added to construct the insurance funds investment portfolio model.Then briefly introduce the model solving algorithm: quadratic programming and genetic algorithm.The fourth chapter is the empirical part,which is based on the sample data to solve the model and analyze the results.In the empirical analysis of this paper,the effect of quadratic programming is better than that of genetic algorithm: under the same benefit,the portfolio risk value of quadratic programming is lower than the genetic algorithm,and the theoretical optimal portfolio is compared with the actual investment of China's insurance funds in 2018.The fifth chapter summarizes the conclusions of this paper,puts forward corresponding suggestions for the investment of insurance funds in China,and finally puts forward the research direction of the article. |
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