Analysis Of Factors Affecting Product Structure Of China Life Insurance Company

Since investment life insurance emerged in our country,the product structure of life insurance companies has changed.In the late 1990 s,because the reduction of bank interest rates,life insurance companies faced huge interest spread risk.In order to prevent interest spread risk and enhance the competitiveness of life insurance products.Investment-oriented life insurance products developed in China.Good times did't last long.With the two incidents of unit-linked life insurance in 2003 and 2008,The China Insurance Regulatory Commission called for insurance to return to the protection.Participating insurance has long dominated life insurance in our country,this challenged the steady operation of the life insurance industry.The number of life insurance companies increased in chinese insurance market after 2010.Newly established life insurance companies aimed to achieve "curve passing",therefore,an investment-oriented life insurance called universal life insurance has developed in the context of increasingly relaxed use of insurance funds.In 2015,the economy faced downward pressure,while the life insurance industry had a unique landscape.The newly published policy of insurance contributed to the prosperity of the insurance industry.Insurance funds also had a good effect in supporting the construction of infrastructure and promoting economic growth.In addition,insurance funds acquired assets overseas and bought the stock of listed company,universal insurance had also been at the forefront of public opinion along with insurance funds.With the end of 2016,The negative assertion of the universal insurance.The universal insurance became the object of criticism.Therefore,it is significant to study the factors of influencing product structure of life insurance companies.This article selects the ratio between investment-oriented life insurance and protection-oriented life insurance to measure the change of the product structure of life insurance company.There are many factors that affect the product structure of life insurance companies.On the demand side,there are economic factors and socio-cultural factors.Economic factors include GDP per capita,inflation rate,deposit rate and other channels of financed planning channels.Socio-cultural factors include social insurance,nationaleducation,socialdependency ratio and traditional culture.On the supply side,the factors include the strength of company,capital structure,liabilities drivers,asset drivers,cost,solvency,business growth,steady operation.This article study from the supply side based on life insurance company.We study the factors that affect the product structure of life insurance companies in our country through 11 factors.Selected factors include the strength of company,capital structure,the ratio of underwriting profit,comprehensive expense rate,market share,liabilities operating rate,benefit rate,premium growth rate,reserve rate,surrender rate,return on investment.