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我国目前的保险公司以股份有限责任制度设立,而这样的格局使得保险公司的经营可以带给股东有限风险和无限利润,具有类似于看跌期权的止损作用。保险公司经营的此种类期权性会成为股东追求高风险投资行为的一种激励,因而保险监管部门需要从融资结构和保险投资两方面着手控制杠杆风险和投资风险等,以促进中国保险业更好发展。
At present, the insurance company in our country is set up by the system of limited liability, and this pattern makes the operation of the insurance company can bring limited risk and unlimited profits to the shareholders with a stop-loss function similar to the put option. This type of option operated by insurance companies will become an incentive for shareholders to pursue high-risk investment. Therefore, insurance regulatory agencies need to control leverage and investment risks from the aspects of financing structure and insurance investment so as to promote China’s insurance industry better development of.