1
External risks in the use of insurance funds
(
1
) market risk
Market price risk is the most common risk in securities investment activities.
The frequent fluctuation of the stock market price makes
It is difficult to determine the future income of securities investors.
Whether investing in stocks,
Bonds,
Futures,
Or investment?
In foreign exchange transactions,
Fund market,
Almost all investors must bear this risk.
The stock market price is usually used.
Index change to measure the price risk.
(
2
) Interest rate risk
For an insurance company, a special enterprise, my understanding of interest rate risk mainly includes: because of banks
Loss of interest rate spread caused by interest rate adjustment,
And because banking products and insurance products have certain substitutability.
And reduce the purchase rate of insurance products.
(
three
) credit risk
Credit risks include: default risk, rating downgrade or change risk, indirect credit or price difference risk and set.
Medium risk.
Another kind of credit risk is related to the financial transaction processing flow.
Usually the situation is as follows:
if
One party to the transaction has delivered,
But the other party didn't deliver the goods,
Losses will occur,
The amount of loss is equal to this compensation.
Principal yi.
Even if one party is slow to act,
The other party may also lose money by losing investment opportunities.
(
four
) Liquidity risk
Liquidity risk refers to the risk that the insurer's current assets are insufficient to pay the debts due.
Insurer flow
Dynamic risk is the result of the interaction between assets and liabilities.
Liquidity risks include:
Liquidation value risk,
Be related by blood
Investment risk, capital financing risk.
2
Internal risks in the use of insurance funds
Insurance investment also has inherent risks. The so-called internal risk refers to the investment decision and investment of insurance companies.
Risks such as decision-making mistakes and operational mistakes in the business process, if these risks cannot be controlled,
It will also have a huge impact on insurance investment.
Compared with the unpredictability of external risks,
Internal insurance investment
The risk can be controlled and measured, which can be reduced as long as the supervision is strengthened at ordinary times.
three
Risk of mismatch between assets and liabilities
For the insurance investment department, which is centered on liabilities, it is different from other investment companies in that
So there is another important risk, which is the liquidity risk caused by the unreasonable matching of assets and liabilities.
If insurance companies spend too much on long-term assets,
Therefore, current liabilities exceed current assets,
as soon as...
Some long-term assets must be sold at a reduced price to alleviate the cash shortage.
This situation may also appear in the book investment price.
The value far exceeds the book liabilities.
This risk is caused by improper investment management.
endogenous
Nature.
The most effective way to control liquidity risk is to establish a debt-based investment strategy.
Liquidate assets
Reasonable portfolio arrangement can match the total amount and structure of assets and liabilities, and resolve the liquidity risk.