| Along with the rapid development of insurance industry,insurance companies accumulate large amounts of money by charging insurance cost, due to the underwriting profit eached the point of loss, to force the insurance companies are facing the crisis of survival and development, so that the insurance company with a special focus on the risks of investment of insurance funds, so as to improve the investment yields to compensate for the loss of underwriting profit, how to make the insurance investment more efficient, this is an important problem of insurance enterprises. Use of insurance funds is an important source of profits of insurance companies, insurance companies and financial markets important institutional investors, raising and financing ability is second only to the banking industry. The capital operation of insurance company involved in bonds, stocks, real estate, mortgage or guarantee loans, and other fields. Is an important part of a country’s financial market. So, how to use and to manage and control the risk of insurance funds has become a modern insurance and country insurance market healthy development of the research focus.Interest rate swaps as the most active in the swaps trades, be avoid interest rate risk effective financial instruments, and expand the financing channels, financing cost reduction as well as strengthen the assets and liabilities management is very important. The business since, market participants and trading volume gradually increase, the international financial sector interest rate swaps as a financing and risk management of effective financial instruments, so the investment of insurance funds interest rate swap business to circumvent capital investment risk, achieve the goal of the value of insurance funds. Along with the advancement of internationalization and marketization of China’s financial industry, financial institutions and interest rate risk facing the enterprises gradually increase, the demand for interest rate swaps are more urgent, but the risk of interest rate swap product itself exists, so if carries on the risk management has become a key issue. This article aims to starting from this Angle, the investment of insurance funds in our country interest rate swap business risk analysis for a meaningful exploration.First of all, in reviewing the domestic and foreign research status quo of insurance funds operation and interest rate swap service, on the basis of defining the concept of insurance money and interest rate swaps, and explain the specific connotation of value at risk, and, in turn, tells the story of the insurance funds operation of portfolio theory, asset liability management theory and the corresponding financial risk management.Secondly, in this paper, the investment of insurance funds in our country interest rate swap business feasibility analysis, described in the size of the insurance funds, investment channels, investment proportion and investment returns; And describes the business development status quo of interest rate swap is to provide basic conditions of insurance funds investment; To reveal the necessity of the insurance company to carry out the interest rate swap business; As well as the analysis of insurance funds investment business risk, interest rate swap is mainly for the market risk and credit risk.Again, for insurance funds investment interest rate swap business faces market risk and credit risk carries on the empirical analysis, through the VaR calculation method and the model of credit default risk to quantify value, according to the data selected for empirical analysis, through the calculation analysis of insurance companies to carry out business face the root cause of the risk of interest rate swap.Finally, based on the empirical analysis case, for a better investment of insurance funds in our country interest rate swap business put forward policy Suggestions.. |
