【摘要】：近些年來(lái)，，巨災(zāi)風(fēng)險(xiǎn)的發(fā)生頻率不斷上升、造成損失不斷擴(kuò)大，在此背景下，傳統(tǒng)的保險(xiǎn)和再保險(xiǎn)已經(jīng)不能滿足巨災(zāi)風(fēng)險(xiǎn)的保險(xiǎn)需要。為了解決這一缺口問(wèn)題，有必要對(duì)保險(xiǎn)風(fēng)險(xiǎn)證券化這一新興的巨災(zāi)風(fēng)險(xiǎn)轉(zhuǎn)移方式進(jìn)行系統(tǒng)的、全面的理解和把握。 保險(xiǎn)風(fēng)險(xiǎn)證券化這一新興金融衍生工具，使巨災(zāi)風(fēng)險(xiǎn)的分散擴(kuò)展到資本市場(chǎng)，而不是局限于保險(xiǎn)市場(chǎng)。它對(duì)提高保險(xiǎn)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(chǎng)和保險(xiǎn)市場(chǎng)的資本結(jié)構(gòu)、促進(jìn)資本的有效流動(dòng)、實(shí)現(xiàn)保險(xiǎn)資源的優(yōu)化配置等方面都發(fā)揮巨大的作用。保險(xiǎn)風(fēng)險(xiǎn)證券化理論逐漸系統(tǒng)和成熟，對(duì)中國(guó)發(fā)展和運(yùn)用保險(xiǎn)風(fēng)險(xiǎn)證券化這一金融工具有較強(qiáng)的理論意義和現(xiàn)實(shí)意義，對(duì)中國(guó)保險(xiǎn)業(yè)在巨災(zāi)方面的研究也起到了很好的參考和借鑒作用。 本文首先對(duì)保險(xiǎn)風(fēng)險(xiǎn)證券化的基本理論進(jìn)行了一般性的介紹、研究，包括保險(xiǎn)風(fēng)險(xiǎn)證券化的內(nèi)涵、產(chǎn)生原因、和主要產(chǎn)品等，接著對(duì)我國(guó)目前發(fā)展保險(xiǎn)風(fēng)險(xiǎn)證券化的必要性和可行性進(jìn)行了較為深入的分析，同時(shí)要清醒的認(rèn)識(shí)到目前還存在一些制約保險(xiǎn)風(fēng)險(xiǎn)證券化在我國(guó)的發(fā)展的因素。另外，以巨災(zāi)債券為例，說(shuō)明了我國(guó)保險(xiǎn)風(fēng)險(xiǎn)證券化的設(shè)計(jì)原則、發(fā)行程序、以及對(duì)不同類型的巨災(zāi)債券的定價(jià)分別進(jìn)行了介紹。在文章的最后提出在我國(guó)發(fā)展保險(xiǎn)風(fēng)險(xiǎn)證券化應(yīng)該分為三個(gè)階段，首先是營(yíng)造發(fā)展保險(xiǎn)風(fēng)險(xiǎn)證券化的外部環(huán)境，其次是在短期內(nèi)，我國(guó)應(yīng)該優(yōu)先考慮發(fā)展巨災(zāi)債券業(yè)務(wù)，最后待條件成熟后全面發(fā)展保險(xiǎn)風(fēng)險(xiǎn)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(xué)位授予單位】：遼寧大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F842;F832.51

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