Study On Insurance Fund Management In China

Because it is not only in favor of the social stability, but also help to prevent the financial crisis, the healthy and stable development of the insurance industry has much significance. The insurance fund management is one of the major operation of insurance companies, therefore it should be developed to promote the insurance industry.However, the operation of the insurance fund has begun lately and lagged behind, evidenced by: firstly, the environment in which the fund operates is not perfect; secondly, the investment channels of the fund are relatively restricted; thirdly, the organization form and the management methods of the fund lag behind. In order to maintain sustainable development of the insurance companies, to improve investment return,to enhance solvency and competitiveness, we need to draw lessons from the operation of the foreign insurance fund for guiding that of the domestic fund. According to their financial systems, the developed counties are classified into bank guiding countries and market guiding countries. Thereafter, the thesis analyses the basic aspects, organization form, and asset-liability management of the operation of the foreign fund.From the experience of the operation of the foreign fund, we can get something for reference: (a)the operation of the fund is bound to the financial system of its own country, therefore, we should take account of the financial system in China rather than follow the foreign country blindly;(b)the able insurance companies should establish asset management company to operate professionally;(c)the insurance companies should combine the liability guiding model and the asset guiding model. With the capital market becoming mature, the asset liability management model will transfer into liability guiding asset-liability management model.In the last part of the thesis, some advice has been put forward for developing the operation of the fund in China, that is, firstly, the able companies can establish insurance asset management company to operate professionally according to our own characteristics and the trend for the development of the financial holding group,with the form of wholly owned, originating to establish in the system or establish mutually outside the system; secondly, widen the investment channels of the fund further; thirdly, the company should adopt asset-liability management method being fit with the...