Research On The Factors Affecting The Return Rate Of Life Insurance Capital Investment

In the past 40 years of reform and opening up,with the vigorous development of China's insurance industry,the use of insurance funds has entered a new era.By the end of 2017,the total assets of China's insurance industry had reached 16 trillion yuan,and the balance of insurance funds had reached 14 trillion yuan.In the case of increasingly fierce competition in the insurance market and the squeezed space for underwriting profit growth,it is especially important for insurance companies to obtain long-term and stable investment income.At present,the macroeconomic growth rate is slowing down,the capital market is continuously oscillating,and the market interest rate is at a low level.There is downward pressure on the investment rate of insurance funds.In the new era,how to promote the specialization and marketization of the use of insurance funds,enhance investment research and risk control capabilities,and maintain a long-term and stable investment yield level is worthy of deep thinking.Insurance funds are divided into life insurance funds and property insurance funds.Life insurance funds have the characteristics of large capital,long investment period and low risk preference.They pay more attention to maintaining long-term and stable investment yield levels,which can be the health of insurance industry and the real economy.Development escort.Therefore,this paper selects the investment rate of life insurance funds as the research object and explores its influencing factors,which will help improve the solvency level of life insurance companies,enhance the competitiveness of life insurance products,and provide a basis for the adjustment of regulatory policies.This paper consists of an introduction and four parts.The introduction part introduces the background and research significance of the topic.The paper analyzes the framework of the paper,explains the research content and research methods,and points out the innovation and deficiency of this paper.The first chapter is the theoretical analysis part,which describes the life insurance fund investment summary and investment theory.The second chapter is the reality analysis part,which analyzes the status quo and characteristics of life insurance funds,existing problems,and the evolution of regulatory policies.The third chapter is the empirical analysis part.After the statistical caliber and calculation method of the unified investment return rate,the theoretical hypothesis of the influencing factors of the life insurance capital investment return rate is made.Taking the domestic 12 life insurance companies as samples,the panel data model is used to calculate the life insurance funds.The empirical factors of the factors affecting the rate of return on investment.The last part is the conclusion and suggestion.According to the above analysis results,the conclusions of this paper are summarized,and corresponding suggestions are given on how to maintain and improve the return rate of life insurance funds investment in China.The conclusions of this paper are as follows: Life insurance companies can reduce the allocation ratio of time deposits and loans and increase the allocation ratio of debt assets,equity assets and real estate assets when carrying out large-scale asset allocation,which can significantly improve the return on investment of life insurance funds;The impact of investment scale on the return on investment of life insurance funds depends mainly on the increasing,decreasing or constant stage of scale return;the impact of investment period on the return on investment of life insurance funds will be limited by the constraint of liabilities,and the investment period will match the maturity of liabilities.Realizing the long-term stability of the investment return rate;the management level reflects the investment management ability of life insurance companies,and theoretically promotes the return on investment of life insurance funds;sufficient solvency means that life insurance companies have more room to choose the assets with higher risk return,so the level of solvency has a significant positive impact on the return on investment of life insurance funds.