【作者】 陈元林；

【导师】 康灿华；

【作者基本信息】 武汉理工大学 ， 国际贸易学， 2004， 硕士

【摘要】 近年来，我国保险业持续快速发展，2003全国保费收入3880.4亿元，同比增长超过20％，远远高于同期GDP的增长。其中投资型产品发展迅猛，使保险经营对保险投资的依赖性进一步加大。从长期投资回报看，债券和股票投资的收益率较高，使得保险资金运用以资本市场为取向成为必然选择。然而，我国保险业资金运用结构目前集中于银行存款和国债，两项占70.6％。银行存款中人民币大额协议存款占72.1％。随着银行利率近年来不断下调，保险资金收益率也逐年下降：2001年为4.3％，2002年为3.14％。去年保险公司可以运用的资金余额为8739亿元，资金运用效率偏低的问题越来越突出，已经直接影响到保险公司的偿付能力和经营的稳定性，关系到保险业能否持续、健康发展。 与传统保险业相比，现代保险业不仅包括经济补偿功能，还包括资金融通功能和社会风险管理功能。这是对保险业功能的新界定，也说明保险业务和保险资金运用是现代保险企业具有同等重要地位的两大主导业务，而且保险资金运用业务日益成为保险业健康发展的基础。因此，对保险资金运用，必须从改革投资监管政策、加强保险公司自身管理能力以及改善资本市场环境三个基本环节着手，共同推进。目前国外保险资金运用有保险投资方式比较灵活；政府在规定投资方式的同时，规定投资比例，从而为控制投资风险提供了条件；证券投资是保险投资的主要组成部分；保险投资的结构比重因产、寿险不同而不同等特点。 中国保险资金运用存在政策性因素导致的系统性风险，保险资金投资管理模式落后，保险资金的运用结构不合理，资金运用率和投资收益率低下等问题。为解决中国保险资金运用存在的问题，实现保险业与资本市场实现战略性互动势在必行。 本文共分五章，分别介绍了保险资金运用的概念；中国保险资金运用的发展及现状；国外保险企业资金运用状况比较分析；中国保险企业资金运用所面临的主要问题；保险业与资本市场实现战略性互动。更多还原

【Abstract】 Recently, the Chinese insurance industrial develop continuing and quickly, the countrywide of premium income to Y3880.4 hundred of million in 2003, the same as than increase exceed to 20%, far from hyper the same term GDP of increase. There into the type of investment product become swift and violent ,insurance management to insurance investment of dependence become increase further .From long term investment return ,bond and stock investment of profit rate is higher ,it can make insurance fund application to capital market tropism become necessity choice .However, insurance fund application structure in our country coverage on bank account and national debt at present, these two items are in occupation of 70.6% .RMB account of agreement saving is 72.1%occupied in bank account .Along with bank rate ceaseless over the price these years, insurance fund profit rate is declined year after year: 4.3% in 2001, 3.14% in 2002.Fund balance that insurance company can exercise last year is ￥8739 hundred of million, the problem of downward bias efficiency in fund application is more and more extrusive, which impress directly on ability of payment and stability of management, it also concerns whether insurance business can persist and develop healthier.Compared with traditional insurance industry, modern insurance includes not only economic compensation function, but also the fund circulation function and social risk management function .It is a new hedge definition of insurance business which were in possession equivalent important status in modern insurance industry, furthermore insurance fund must enforce there basic aspects that reform investment supervision policy, strengthen self ability of management in insurance company and improve capital market environment impel these threeaspects together. Now abroad insurance funds application have surely investment way comparison flexible; Government stipulates investment proportion while stipulating investment way , has so offered condition to control investment risk; Bond investment is the major composition part of safe investment; The structural proportion of insurance investment because of property insurance , life insurance nearly different and not equal characteristic.Chinese insurance funds application existence policy factor the systematicness risk that caused , surely capital investment management pattern is backward , the structure of insurance funds application is not reasonable, capital is low with rate and investment gain rate ,etc. To solve the problem of Chinese insurance funds application , insurance and capital market to realizing strategical moving mutual is imperative.This paper divides into 6 chapters ,it introduces the concept of insurance fund application; the present situation and development of Chinese insurance ; abroad insurance fund application’s condition; the major problem of Chinese insurance been faced; insurance and capital market realizing move mutual.更多还原