文档介绍：华中科技大学硕士学位论文摘要人寿保险公司的经营包括承保业务和投资业务,随着金融市场的发展,寿险资金投资业务已经成为现代寿险公司生存和发展的重要手段。寿险资金的投资收益将对寿险公司自身的持续经营和稳定性产生重大影响。首先,文章从人寿保险资金的性质为出发点,分析了我国寿险资金投资的原则、寿险资金投资的工具、寿险资金的来源和我国在人寿保险投资过程中经历过几个阶段, 指出了我国当前在寿险投资中所存在的问题。其次,介绍了国外寿险资金运用状况。国外在寿险资金投资方面的特点:一是寿险资金投资结构多元化;二是资产组合证券化程度高;三是依靠投资收益来弥补承保亏损。对比我国寿险业资金运用,投资结构不合理是造成收益率低下的主要原因。因此,进行有效的资产组合,提高收益率成为当前亟待解决的问题。然后,我国寿险投资组合模型设计与实证分析。证券投资组合理论研究证券的预期收益与风险的关系,分散投资可以降低投资风险,从而保证投资收益。从投资组合理论的角度,设计出寿险投资组合模型,以中国人寿保险股份有限公司为研究对象, 对投资模型进行实证分析,求出中国人寿保险资金最优投资组合比例。最后,是本文的建议部分。将研究出的结果与实际数据对比,提出了完善我国寿险资金投资的三点建议:扩大寿险资金投资渠道,设立专业化投资管理机构和推进寿险资产证券化创新。关键词:人寿保险投资收益资产组合华中科技大学硕士学位论文 Abstract The business ofthe life—pany includes underwriting business and investment business,with thedevelopment offinancialmarket,the investment business has e more and more critical to alife— investment business ofprofit will have great influences tolife—insurance interms ofsolvency andcontinuance. Firstly,the paper focuses on life—insurancecapital ofcharacteristics,by following analysis thelife·insurance investment of principles,tools, sources, and life—insurance investmentcourse,point aremany problems inour country now. Secondly,by introduce the status oflife-insurance paper summarizes three features interms ofinvestment atforeign: investment structure hasbeen set up; investment has been thedomination ofsecuritiesassets; profit e themajor e instead ofunderwriting ,parison with foreign,our country existed problems ininvestment,unreasonable investment structure resultin lowdeployment e an urgentproblem forlife—panies toefficientportfolio. Thirdly,by design suit our country life—insurance securities portfolio model and demonstration portfolio portfolio theory research relationofexpecting yield and risk,account fordispersal investment can diminish risk and assure portfolio of angle,design themodel oflife-insurance portfolio,and then seek out the studyobject of China Lifc Insuranc