中小财产保险公司资金运用模式探究

发布时间：2018-04-08 11:11

本文选题：财产保险　切入点：资金运用　出处：《上海交通大学》2013年硕士论文

【摘要】：本文在简要回顾中国保险资金运用历史的基础上，介绍保险公司资金运用的几种模式及其特点和趋势，并选择中小财产保险公司的资金运用为研究对象，着重阐述其进行外部委投资时的具体运作流程。笔者将中小财产保险公司的委托投资分为资产配置策略需求的确定、精选投资管理人和组合构建以及绩效评估、风险控制与组合管理三个大的方面，并对这三个方面逐一进行研究论证。资产配置策略需求的确定方面立足中小财产保险公司的承保业务结构，结合资产负债管理、偿付能力分析、现金流量匹配等因素确定资产配置的需求；管理人组合构建方面，立足于管理人评价体系研究并构建管理人组合的模型来分析；绩效评估、风险控制与组合管理方面，立足于管理人配比调整和管理人更换来实现投资管理人组合的动态管理。组合模型的构建基于层次分析法（Analytic Hierarchy Process简称AHP），以投资管理人选择为目标，将表明投资管理人特征的因素综合成四个一级指标，若干个二级指标，建立一个层次结构，然后围绕财产保险公司的资产负债、偿付能力和现金流量这三个最主要的特征采用专家打分的方法计算上述各个二级指标的权重，，并用同样的方法向第一层次四个指标推进，最终得出决策结果。为中小财产保险公司的资金运用提供理论支持和操作方法指导。
[Abstract]:Based on a brief review of the history of the use of insurance funds in China, this paper introduces several models, characteristics and trends of the use of funds by insurance companies, and selects the use of funds of small and medium-sized property insurance companies as the research object.Focus on its foreign ministries to invest in the specific operation process.The author divides the entrusted investment of small and medium property insurance companies into three aspects: the need of asset allocation strategy, the selection of investment managers and portfolio construction, the performance evaluation, risk control and portfolio management.And to these three aspects one by one to carry on the research and demonstration.Asset-allocation strategy demand is based on the underwriting business structure of small and medium-sized property insurance companies, combined with asset liability management, solvency analysis, cash flow matching and other factors to determine the requirements of asset allocation.Based on the study of manager evaluation system and the establishment of manager portfolio model to analyze; performance evaluation, risk control and portfolio management, based on the manager ratio adjustment and manager change to achieve the dynamic management of the portfolio of investment managers.The construction of the combination model is based on Analytic Hierarchy Process, which aims at the selection of investment managers. The factors that indicate the characteristics of investment managers are integrated into four first-level indicators and several second-level indexes, and a hierarchical structure is established.Then around the assets and liabilities, solvency and cash flow of the property insurance company, the three most important characteristics, the expert scoring method is used to calculate the weights of each of the above secondary indicators, and the same method is used to advance to the first level and four indicators.Finally, the decision result is obtained.To provide theoretical support and operational guidance for the use of funds of small and medium property insurance companies.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F842.3

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