保险证券化

新疆实施农业巨灾保险证券化探讨

The Feasibility of Catastrophic Insurance Securitization in Xinjiang

如何增加有效的农业投资？新疆实施农业巨灾保险证券化探讨

How to increase effective agricultural investment ? The Feasibility of Catastrophic Insurance Securitization in Xinjiang

直到2004年，美国沃顿金融研究中心J.DavidCummins教授一篇名为《SecuritizationofLifeInsuranceAssetsandLiability》的工作论文才正式揭开了人寿保险证券化研究的序幕。

In 2004 , the work paper which named Securitization of Life Insurance Assets and Liability by Professor J. David Cummins , the Wharton Financial Institution Center , has formally opened the curtain of life insurance securitization .

除了这些方式以外，我们还可以利用保险证券化产品来为巨灾补偿基金筹集资金。

Aside from these sources , we can issue insurance securitization products to raise capital for catastrophe compensation fund .

目前，产险业的巨灾风险证券化发展已经比较成熟，寿险业的人寿保险证券化发展则相对迟缓，一直未能受到足够的重视。

At present , catastrophic risk securitization has been relatively mature , but the life insurance securitization is relatively slow development .

对于国内学者来说，人寿保险证券化领域鲜有人涉足，相关研究成果更是屈指可数。

For our domestic scholars , the area of life insurance securitization involved was fresh , relevant research results is a handful .

近年来保险证券化产品在国际保险市场得到了长足的发展，保险证券化在中国也应该得到相应的发展。

In these years , insurance securitization has experienced a rapid development in the world , and it should be well developed in China .

通过自有资本、外来资金、再保险和农业巨灾保险证券化四种手段的研究分析，得出从四个方面建立风险分散管理体系的结论。

Through its own capital , foreign capital , and agricultural catastrophe reinsurance , insurance , securities research and analysis of four kinds of methods , drawn from the four management systems establish the conclusions of risk diversification .

保险证券化应用研究、保险可持续发展理论、金融监管理论、商业保险和社会保险相结合问题、保险业发展的政策支持理论等，是未来保险理论可能突破的领域。

The potential theoretical breakthroughs of the sector will be the applicational study of insurance securitization , sustainability theory , financial regulatory theory , fusion of commercial insurance and social insurance , policy support for insurance development , etc.

并借用了巨灾风险证券化的设计思路，提出了存款保险证券化这一概念，将证券化应用于金融机构的存款保险制度中，以求较好的解决金融机构危机时的流动性保全问题。

In the end , I have set forth the concept " deposit insurance securitize " borrowing from " cat bonds securitize " and applied securitize into the deposit insurance in order to solve the liquidity and conservation of the finance crisis .

保险风险证券化在中国发展的基础研究

The Basic Study on Development of Insurance Securitization in China

因此，找出适合保险公司证券化的资产是关键所在。

Therefore , finding out the assets is the key .

我国巨灾保险风险证券化研究

Research on the Catastrophic Insurance Risk Securitization in China

第五部分提出了我国今后发展保险风险证券化的战略思路和基本步骤。

Chapter five concludes the strategic steps of the development of insurance securitisation in China .

保险风险证券化&巨灾债券

Insurance risk securitization & catastrophe bond

保险风险证券化研究

Research on Securitization of Insurance Risk

浅谈国外保险风险证券化

On Foreign Securitization of Insurance Risks

再谈保险风险证券化

On Securities of Insurance Risk

保险风险证券化是国际资本市场在20世纪90年代兴起的一种金融创新，它能有效地把保险公司的风险分散到资本市场的投资者中。

Since the 1990s the securitization of insurance risk has become an important derivation instrument in capital market .

保险投资证券化很好的诠释了保险公司承保和投资业务之间的关系，是保险市场与资本市场互动的直接体现。

Insurance investment securities are of great interpretation of the linkage between the insurance market and capital market interaction .

同实业和银行业相比，保险业证券化技术的运用相对较迟。

Comparing with the manufactory and banking system , the securitization technology in insurance industry is still lagging behind .

作为资本市场中的重要衍生产品，保险风险证券化是再保险的有效替代机制。

As an important derivative instrument in capital market , the securitization of insurance risk is an effective substitute to reinsurance .

首先，本文对资产证券化的一般概念做出定义，同时衍生出保险资产证券化的定义。

Firstly , the paper defines the general concept of asset securitization , and then goes through to the definition of insurance asset securitization .

在此笔者将保险资产证券化分为三类：保险增量资产证券化、保险投资证券化和保险存量资产证券化。

In this paper the insurance securitization is divided into three categories : Insurance incremental asset securitization , insurance investment securitization and insurance asset securitization .

保险风险证券化作为国际保险市场化解巨灾风险的一项重要创新，也正在为我国保险业所关注。

Catastrophic risk Securitization , as a significant innovation to eliminate catastrophic risk in international insurance market , has been focused on by China 's insurance field .

20世纪90年代出现的保险风险证券化，被国际保险业视为保险在资本市场上的一个重大金融创新，是巨灾风险分散的另一新兴工具。

Insurance-linked securities , emerging at the beginning of 1990s , are shown as an important financial innovation that shifting catastrophe risk from insurance markets to financial markets .

巨灾保险风险证券化作为国际上近十几年来补充巨灾风险保险和再保险的一种风险分散机制，已经越来越显示出其重要性。

As a risk disperse mechanism that internationally complement of catastrophe risk insurance and reinsurance in recent decades , catastrophe insurance risk securitization has already shown more and more importance .

保险风险证券化是近几年来国际风险管理领域的一项重要创新，是对传统保险风险管理手段的替代和补充。

Insurance risk securitization ( IRS ) has been an important innovation in international risk management field currently . Which has also been an substitution and complementarity to traditional methods .

巨灾保险风险证券化的本质是把巨灾风险分散到资本市场上来，利用资本市场的强大容纳力，补充保险市场对巨灾风险的承保能力。

In the essence , catastrophe insurance risk securitization disperses the catastrophe risk to the capital market , making use of the strong capacity of capital market to supplement insurance capacity of catastrophe risk .

然后对我国的保险风险证券化研究做了实证分析，根据我国1954年-2010年间多次洪涝灾害（损失在100亿元以上）的损失数据，并对其损失分布做出拟合。

Then , in we have committed empirical analysis of the insurance risk securitization , based on Chinese data including several times of floods ( loss of 100 billion yuan ) between 1954-2010 , and fitted the loss distribution .