A Study On The Influence Of The Listing Of China Life Insurance On Its Solvency Under "Compensation Second Generation"

Since the outbreak of the wave of risk capital raising in 2015,after the bank of China insurance regulatory commission further constraints,in recent years the risk capital raising events significantly reduced,but each risk capital raising will still trigger a hot social debate.In the first quarter of 2016,China officially launched the "second generation of compensation" regulatory system.The China banking insurance regulatory commission has put forward higher requirements on the solvency of insurance companies.Insurance companies also regard solvency as a key assessment indicator for their continuous operation.Due to the short time for the official implementation of the "second generation of compensation" system in China and the limited data,few scholars have conducted in-depth discussions on the solvency problem caused by the risk raising.Risk investment,however,is not just about raising behavior by raising the listed companies,equity and management problems,and raising the solvency of insurance company also has a great relationship,and to measure insurance company comprehensive strength is an important index of solvency level,this also is policy-holder are factors to consider when choosing insurance company.Accordingly,the solvency change that risk endowment raises behavior to cause is crucial.In this paper,based on the regulatory environment of "the second generation of compensation",China life insurance,a representative company in the insurance industry with a high number of recent signboards,is selected as an example to study the influence of insurance capital on the solvency of insurance companies.The first chapter of this paper is the introduction,by reading a large number of historical documents,combing and summarizing the research results of scholars at home and abroad,to provide the direction and ideas for the research of this paper.Second ZhangJu brand influence the solvency of the theoretical basis and function mechanism,this paper introduces the risk capital raising and concerned concepts of solvency,and herding effect theory,information asymmetry theory and enterprise management theory,etc.,at the same time analyzed the risk information and raising the solvent effect of two kinds of mechanism,after theoretical analysis for the empirical research.The third chapter analyzes the business characteristics of China life insurance and the two parties,analyzes the situation,financial status and capital sources of China life insurance company,and then studies the subjects of the two parties respectively.Fourth ZhangJu brand for China life insurance solvency factors affecting the empirical analysis part,through the vertical and horizontal two aspects of China life insurance solvency problems related to do the empirical research and analysis of financial data,longitudinal sign are studied by using entropy value method,the company internal factors that affect its solvency,transverse contrast four risks for brand companies and analysis about the business model and liquidityof the sign to reflect the influence of its solvency.Chapter five conclusions and recommendations,based on the above theoretical and empirical analysis,draw the following conclusions: first,the operation and capital structure and debt situation are the main aspects affecting solvency;Second,the risk capital to raise funds from a single source,relatively high solvency;Third,the risk of capital to raise the board occupy less capital,relatively good liquidity.Finally,the paper puts forward the corresponding policy Suggestions according to the conclusion.The first is to strengthen the assets,liabilities and management of insurance companies.Second,improve the information disclosure system;Third,we will strictly manage the liquidity risks of insurance companies.The conclusion of this paper is that insurance companies can balance the future investment benefits and risk challenges when using insurance funds to raise capital.The rational use of insurance funds will ensure the solvency of insurance companies to meet the requirements of continuous operation.To some extent,the conclusion of this paper also provides reference for insurance companies in strategic investment and their own operation.