Research On The Risks Of Chinese Life Insurance Companies' Investment In Retirement Community

China has the largest number of elderly people in the world,with 249 million people aged 60 and above by the end of 2018.The aging problem has only appeared in China for 20 years,but under the dual influence of increasing life expectancy and family planning policy,it is expected that the "silver wave" will continue to develop at a high speed in the future and the huge elderly population will put forward higher requirements on China's pension service industry.However,the development of China's current pension market is slow,there are serious problems such as supply and demand mismatch.How to better develop the old-age care industry and meet the needs of the elderly is one of the key issues of social concern in China.The government also attaches great importance to the problems of pension.In the "Government Work Report" of 2019,"nursing" became a high-frequency word,a total of 16 times.And the report clearly put forward to develop the pension community endowment services.In particular,for providing services such as rehabilitation nursing institutions should give policy support,promote the development of “the integration between pension and medical”.Due to its unique advantages in longevity risk management and long-term asset-liability matching management,it is timely for life insurance companies to participate in the construction of multi-level pension system.Taikang life insurance company is the first insurance company to invest in the retirement community in China and has become one of the largest chain pension institutions in China.And it has the earliest layout and the fastest development in the field of elderly care community.Therefore,its design layout,market positioning and operation mode are very typical and representative.And the risks it faces in the construction of elderly care community are also representative of the industry.At present,domestic researches on retirement community mostly focus on the feasibility analysis and pay little attention to the existing risks.In term of this,this paper focuses on the risks of Taikang life insurance company 's investment in the retirement community.This parper is divided into seven chapters,and we analyze risk identification,risk analysis,risk assessment,risk management of Taikang life insurance company 's investment in the retirement community through case analysis,Analytic Hierarchy Process(AHP)and fuzzy comprehensive evaluation method,and obtain the general of the Life insurance companies invest in building retirement communities as well asoffer feasible suggestions for these risks.First of all,this paper introduces the research background and significance.And we have a more detailed understanding of the research results by searching the literature at home and abroad.Then it explains the reasons for choosing the Taikang Life Insurance company as a case,and analyzes the development status of Taikang Life Insurance company and the basic situation of building retirement communities.Risk identification and risk assessment are the key parts of this paper,mainly focused on chapters 3 and 4.Firstly,according to the specific situation Taikang Life Insurance company invests retirement community,combined with relevant literature and theory,identify and analyze risks,and build a risk assessment system.Next we analyze the risk Taikang Life Insurance company investment community risk weight and the overall risk level with the Analytic Hierarchy Process and Fuzzy Comprehensive Evaluation Method.In order to provide operational countermeasures for the risk management of life insurance companies in China,this parper draws lessons from the successful operation of the retirement community at home and abroad.Finally,this paper puts forward some suggestions on the risk management of Chinese life insurance companies investing in the retirement communities.