Study On The Allocation Of Insurance Funds Under The New Policy

In February 2014,the China insurance regulatory commission issued “ Regulatory Notice on Strengthening and Improving the Use of Insurance Funds Proportion”,which classified the insurance company investment into five assets,and made the class regulation and risk monitoring.In July 2015,the CIRC increased the investment large-cap of blue-chip stocks of policy to 40%.In 2016,“ the administration measures for indirect investment of insurance funds in infrastructure projects” revised,further relaxed the limitation of the investment of insurance funds in infrastructure,and increase feasible investment model of government and social capital cooperation.In January 2018,“ Guidance about defense the debt risk of Strengthening the Management of Insurance Funds Support” and “ Management Method of Insurance funds” broaden the investment range of insurance funds to service the real economy,and lower the investment criteria.The policies of the use of insurance funds release frequently,which broaden the investment channels,such as private equity investment,infrastructure investment plan,real estate investment,which increase investment operation space of insurance funds,and the market-oriented reform process of the use of insurance funds accelerated obviously.This article focuses on the research of optimal investment portfolio of insurance funds under the new rules.In first chapter,uses facts and data to state the scale and earnings of the use of insurance funds in our country,analyzes the property and restriction of asset investment in detail,and explains the latest regulations of the circ on all kinds of assets,puts forward the existing problems.In second chapter,analyse the experience of international insurance funds application and draw lessons.In third and fourth chapter,introduce the markowitz portfolio model,collect data which represent the market hot assets,and restrict the assets proportion based on the latest regulation.According to empirical research model,found that the equity assets and real estate assets can greatly improve the expected return of the portfolio,portfolio in our country has a larger development space.In fifth chapter,puts forward suggestions to government and industry and company to optimize the allocation of insurance funds on the theoretical foundation.