保险资金投资目标设计及实现

The Principle,Objective′s Design and Achievement of Insurance Fund Investment

投资目标的设计及其实现方式对保险公司的投资结果具有直接影响。论文在梳理保险投资基本逻辑的基础上,提出保险公司必须建立均衡投资的原则,兼顾短期收益结果和长期收益能力,平衡绝对收益和相对收益。同时,保险公司应在监管与风险限额的约束下,综合使用多种工具、机制,合理制定、分解、量化投资目标,通过组织架构、投研方法、团队建设、风险控制、绩效考核等环节的相互衔接,正确激励投资团队在资产负债匹配管理框架下获取超额收益。

The design and implementation of investment goal have a direct impact on the insurance company＇s investment results. Based on the basic logic of insurance investment, this paper suggested that insurance company need to establish the principle of balanced investment, which should consider the investment yield both in the short run and in the long run, and balance the relationship between absolute return and relative return. Meanwhile. under the constraints of supervision and risk appetite, insurance company should utilize multiple tools and mechanisms to establish, decompose and quantify the investment goal, and gain excess return under the framework of asset and liability management through arrangement on organization structure,investment and research method, team construction, risk management and performance assessment.