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Since the reform and opening up, China's national strength and international status to enhance the purchasing power of the public continue to be enhanced, thus increasing more and more investment and consumption demand, and this demand is no longer a problem of food and clothing, but how to make their wealth continue to grow, and to minimize the loss of possible investors realities and potential investment increasing the value of demand is booming; China's capital market, though not perfect, in the implementation of the model of separate supervision and financial products increasingly innovation under the new situation, the major financial institutions under the increasingly fierce market competition has introduced a distinctive financial investment products. However, financial investment product homogenization of serious, single function, can not meet the investor personalized and differentiated investment demand, under such circumstances, some insurance agencies change the introduction of features with the industry, versatile investment investment-oriented life insurance products for domestic and foreign investors to meet their own assets while increasing the value of a broader investment channels and more choice, but also enrich the product structure of China's financial markets has contributed to. With China's sustained and rapid growth of the market economy system has improved steadily, and the initial establishment of the market economy system the external large financial institutions in the fierce competition in the market, the gradual market segments, build brands, improve the service content, rich product types, the use of modern high-tech technology to create three-dimensional, professional service system and sales network; constantly enhance the purchasing power of the majority of investors (individual investors) and investment banking needs, an optional set of investment channels and the types of investment products increasingly rich, while facing a variety of potential risk. Through research, found that Chinese investors to invest in financial trend: complex investment environment, modernization of financial management concepts (efficiency awareness, market awareness, sense of time, sense of competition, the development of awareness and sense of reform), the investment in a broad, diversified investment investment approach scientific the perfect investment information network, investment tools, investment services industry and investment research to quantify. However, relative to the low-risk, low-yielding bank deposits and bonds investment channels, investment and insurance products, with high-yield, safe and reliable characteristics; relative to the high-risk, high-yield stocks, funds, options, futures and other traditional and innovative type of financial products, investment and insurance products in addition to value preservation, both protection insurance. This investment insurance products launched by the insurance institutions, subject to market blitz to make the most accurate explanation. Foreign investment insurance products have become commonplace, in China, the pace of development of such products is limited, but it shows promise. Investment-oriented insurance products face risks: market risk, credit default risk, liquidity risk and the risk of sales, this article focuses on investment-type insurance products is rather special, highly representative of the investment-oriented life insurance market risk faced by empirical analysis. First, by investment-oriented life insurance products and sub-investment-oriented insurance products in value-at-risk (VaR) the theoretical operating system introduced after the use of value-at-risk (VaR) representative of investment-oriented life insurance products selected two empirical analysis, reveal and quantify the market risk faced by the investment decisions of investment-oriented life insurance products; empirical analysis concluded that: investment life insurance decision-making, the product portfolio of more than a single product investment risk diversification; Finally, investors to invest in investment practical suggestions, life insurance products to meet quantitative and risk diversification, to achieve the purpose of increasing the value of the assets. This thesis begins with ideas proposed the use of value-at-risk (VaR) an empirical analysis of the theory of investment-oriented life insurance products arrangements; followed by the theory of investment-oriented life insurance products and value-at-risk (VaR) to summarize the recent developments at home and abroad for elaboration; Based on this theory, the value at risk (VaR) system to do the analysis, including: the principle of value-at-risk model to calculate theoretical characteristics, the model is applied, theoretical defects, followed by China Ping An Life grand international every year and China Life China Life Yufeng two investment-oriented life insurance for comprehensive information on; third part, the use of value-at-risk (VaR) the theory empirical analysis of market risk faced by these two investment-oriented life insurance products, including analytical conclusions and pressure test section; Last constructive suggestions and opinions on the design of insurance and financial products and investment. At the same time, this article uses a combination of qualitative analysis and quantitative analysis methods, the first part, mainly from the qualitative point of the theoretical system of value-at-risk (VaR) system introduced, followed by the level China Ping An investment-oriented life insurance products - rich mid-and China Life - China Life Yufeng investment-oriented life insurance products, including product features, functionality and market risk faced by the last chapter from the qualitative point of view put forward constructive suggestions the policymakers investment investment-oriented life insurance products; after part of the use of value-at-risk (VaR) theory of investment-oriented life insurance products selected sample data for quantitative empirical analysis, including: the establishment of the VAR model, model calculations, stress testing, choice of two investment-oriented life insurance products have a certain representative and typical, are: China Ping An Life grand international mid-investment-oriented life insurance, and China Life, China Life Yufeng investment-oriented life insurance. The selected data is up-to-date data, through the use of commonly used statistical techniques and software for the empirical analysis to reveal the existence of the investment market risks and possible ranges for investors, better prevention and management of market risk for investors to provide some reference. This writing ideas above arrangement based on the following two considerations: first empirical theory, so that readers read, easy to understand; easy to difficult, in line with the people's thinking habits; first argued, after the arguments, and then conclusions, easy to collect information and articles overall arrangement, after one go. The entire article generally deductive logic, leads to a theoretical model, and then use the model to empirical data to determine the mainstream portfolio risk mitigation point of view is correct or not; with model checking product design at the same time for investors Investment decision-making reference. Source: taken from the insurance agency official website of the Investment Annual Report and analysis reports. Article writing process, the data processing to use statistical software, including: SPSS, Excel, and EVIEWS.
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