【摘要】：近些年來，，巨災風險的發(fā)生頻率不斷上升、造成損失不斷擴大，在此背景下，傳統(tǒng)的保險和再保險已經(jīng)不能滿足巨災風險的保險需要。為了解決這一缺口問題，有必要對保險風險證券化這一新興的巨災風險轉(zhuǎn)移方式進行系統(tǒng)的、全面的理解和把握。 保險風險證券化這一新興金融衍生工具，使巨災風險的分散擴展到資本市場，而不是局限于保險市場。它對提高保險人的賠付能力、承保能力、提高投保人的福利、增加投資者的投資方向與收益、改善資本市場和保險市場的資本結(jié)構(gòu)、促進資本的有效流動、實現(xiàn)保險資源的優(yōu)化配置等方面都發(fā)揮巨大的作用。保險風險證券化理論逐漸系統(tǒng)和成熟，對中國發(fā)展和運用保險風險證券化這一金融工具有較強的理論意義和現(xiàn)實意義，對中國保險業(yè)在巨災方面的研究也起到了很好的參考和借鑒作用。 本文首先對保險風險證券化的基本理論進行了一般性的介紹、研究，包括保險風險證券化的內(nèi)涵、產(chǎn)生原因、和主要產(chǎn)品等，接著對我國目前發(fā)展保險風險證券化的必要性和可行性進行了較為深入的分析，同時要清醒的認識到目前還存在一些制約保險風險證券化在我國的發(fā)展的因素。另外，以巨災債券為例，說明了我國保險風險證券化的設(shè)計原則、發(fā)行程序、以及對不同類型的巨災債券的定價分別進行了介紹。在文章的最后提出在我國發(fā)展保險風險證券化應(yīng)該分為三個階段，首先是營造發(fā)展保險風險證券化的外部環(huán)境，其次是在短期內(nèi)，我國應(yīng)該優(yōu)先考慮發(fā)展巨災債券業(yè)務(wù)，最后待條件成熟后全面發(fā)展保險風險證券化業(yè)務(wù)。
[Abstract]:In recent years, the occurrence frequency of catastrophe risk has been increasing, resulting in the expansion of losses. Under this background, the traditional insurance and reinsurance can no longer meet the needs of catastrophe risk insurance. In order to solve this problem, it is necessary to systematically, comprehensively understand and grasp the insurance risk securitization, a new way of catastrophe risk transfer. The securitization of insurance risk, as a new financial derivative, makes the dispersion of catastrophe risk extend to the capital market, but not to the insurance market. It can improve the indemnity ability, the underwriting ability, the welfare of the policy holder, increase the investment direction and income of the investor, improve the capital structure of the capital market and insurance market, and promote the effective flow of capital. To achieve the optimal allocation of insurance resources and other aspects play a huge role. The theory of insurance risk securitization is becoming more and more systematic and mature, which has strong theoretical and practical significance for the development and application of insurance risk securitization as a financial instrument in China. It also plays a good reference and reference role in the study of catastrophe in China's insurance industry. In this paper, the basic theory of insurance risk securitization is introduced, including the connotation of insurance risk securitization, the reasons, and the main products. Then, the necessity and feasibility of developing insurance risk securitization in our country are analyzed deeply. At the same time, some factors restricting the development of insurance risk securitization in China should be soberly realized. In addition, taking catastrophe bonds as an example, this paper explains the design principles, issuing procedures and pricing of different types of catastrophe bonds in China. At the end of the article, it is proposed that the development of insurance risk securitization in China should be divided into three stages: first, to create an external environment for the development of insurance risk securitization, and secondly, to give priority to the development of catastrophe bond business in the short term. Finally, after the conditions are ripe, the insurance risk securitization business will be developed in an all-round way.
【學位授予單位】：遼寧大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F842;F832.51

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