我国寿险公司投资养老地产模式研究

发布时间：2018-04-05 15:04

本文选题：寿险公司　切入点：养老地产　出处：《西南财经大学》2014年硕士论文

【摘要】：人口老龄化,是我国必然要经历的一个社会问题,传统的家庭养老模式正在承受越来越大的压力,夫妻两人赡养四个老年人将成为我国家庭养老的一种常态。随着我国经济的发展和人们收入水平的日益提高,人们对养老的要求也越来越高。目前我国传统的养老模式已经无法满足老年人的养老需求,人们对高端养老住宅的兴趣越来越浓厚。在这种背景之下,养老地产逐渐兴起,在刚刚兴起的养老地产领域中,也出现了各种投资主体,其中,保险公司是让人比较关注的一股投资力量。养老地产的建设和运营需要巨大的资金支持,其投资的回收周期长达10至15年,这些要求与保险公司特别是寿险公司的资金特性不谋而合。寿险资金具有规模大、期限长的特点,然而我国目前的寿险资金运用状况并不十分理想,不论寿险资金的来源和期限长短如何,其投资的项目基本上都是短期性的,导致这种结果的原因是市场上还缺乏具有稳定回报率的中长期投资项目。这种资金来源和投向的长短错配,不利于保险资金形成良性循环,也达不到保险资金要求的使用效果,养老地产的出现恰好成为了寿险资金投资困境的一个出口,因此寿险公司是非常适合参与养老地产的投资跟建设的。本文首先介绍了中国养老地产的概念,区分了其与一般地产项目的不同,并且在分析了我国现有的三种基本养老模式的不足之处基础上,介绍了中国养老地产的兴起。在第二章中,首先分析了寿险公司投资于养老地产的必要性,一方面是因为老年人口迅速增加和机构养老需求迫切,另一方面则是因为寿险公司亟需与其长期资金相匹配的投资渠道,接着从法律、寿险公司和养老地产行业的角度分析了寿险公司投资于养老地产的可行性。第三章主要介绍了国外养老地产的发展概况和投资模式,结合国外的养老地产投资经验,在接下来的篇幅中则主要研究了可供我国寿险公司选择的投资模式和投资策略,最后以泰康之家为例介绍了我国寿险公司投资养老社区的一个典型案例。
[Abstract]:The aging of the population is a social problem that our country must experience. The traditional family pension model is under more and more pressure. It will become the norm of our country to support four old people by husband and wife.With the development of economy and the improvement of people's income level, people's demand for old-age support is higher and higher.At present, the traditional old-age pension model can not meet the needs of the elderly, people are more and more interested in high-end old-age housing.In this background, pension real estate is gradually rising, in the newly rising field of pension real estate, there are also a variety of investors, among which, insurance companies are more concerned about an investment force.The construction and operation of pension real estate require huge financial support, and the investment recovery cycle lasts for 10 to 15 years. These requirements coincide with the capital characteristics of insurance companies, especially life insurance companies.Life insurance funds have the characteristics of large scale and long term. However, the current situation of life insurance funds in our country is not very ideal. Regardless of the source and duration of life insurance funds, the projects in which life insurance funds are invested are basically short-term.The reason for this is the lack of medium-and-long-term investment projects with stable returns in the market.This mismatch of the source and investment of such funds is not conducive to the formation of a virtuous circle of insurance funds, nor does it achieve the effect of the use of the insurance fund requirements. The emergence of pension real estate has just become an export of the investment dilemma of life insurance funds.Therefore, life insurance companies are very suitable to participate in pension real estate investment and construction.This paper first introduces the concept of China's pension real estate, distinguishes it from the common real estate projects, and on the basis of analyzing the deficiencies of the three existing basic pension models in China, introduces the rise of China's pension real estate.In the second chapter, we first analyze the necessity of life insurance companies to invest in pension real estate, on the one hand, because of the rapid growth of the elderly population and the urgent need for institutional pension.On the other hand, it is because life insurance companies need investment channels that match their long-term funds, and then analyzes the feasibility of life insurance companies investing in pension real estate from the perspective of law, life insurance companies and pension real estate industry.The third chapter mainly introduces the development situation and investment mode of foreign endowment real estate, combining with the investment experience of foreign pension real estate, in the following chapter, it mainly studies the investment mode and investment strategy that can be chosen by life insurance companies in our country.Finally, taking Taikang House as an example, it introduces a typical case of life insurance company investing in pension community in China.
【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F842.3;F299.23;D669.6

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