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碩士 === 國立中央大學 === 財務金融研究所 === 98 === Abstract Due to the constantly changes of global financial products, how to select an item with safe and stable revenue is the motivation of this research. The purpose of this research is to analyze the revenue and relative risks of investing insurance....
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ndltd-TW-098NCU053040022015-10-13T13:43:20Z http://ndltd.ncl.edu.tw/handle/47826889297534769517 none 投資型保險商品之研究:以全球人壽「領航投資連結型保險-澳視全球六年期澳幣結構型債券」為例 Hui-Ying Hsu 許卉盈 碩士 國立中央大學 財務金融研究所 98 Abstract Due to the constantly changes of global financial products, how to select an item with safe and stable revenue is the motivation of this research. The purpose of this research is to analyze the revenue and relative risks of investing insurance. Using TransGlobe Life Insurance Inc.’s insurance policy SN16A as the case study, the data is analyzed through matlab software tool by Monte Carlo Simulation,which is one of the more flexible method in numerical analysis. The results are: 1. When not considering the risks of currency exchange, the investment revenue is greater than zero by average. Afetr considering the exchange rate factors, the percentage of the investment revenue to be less than zero is as high as 40.82%. Thus, risks of currency exchange should not ignored. 2. After deducting the cost of insurance and additional fees, the yield of Yearly revenue is less than risk-free interest rate. 3. The low rate of involvement is limited in its influence on investment rate of return. The contract states that with a 30% of involvement rate,unless the portfolio growth rate reaches above 120%, can it be greater than the 36% of investment rate of return. This research will hopefully become the financial tool in this time of low-rate investment,in order to provide a reasonable way for investors to estimate future ROI and investment risks,and to choose appropriate items according to individual risk tolerance. Chuang-Chang Chang 張傳章 2010 學位論文 ; thesis 79 zh-TW |
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碩士 === 國立中央大學 === 財務金融研究所 === 98 === Abstract
Due to the constantly changes of global financial products,
how to select an item with safe and stable revenue is the motivation
of this research.
The purpose of this research is to analyze the revenue and
relative risks of investing insurance. Using TransGlobe Life
Insurance Inc.’s insurance policy SN16A as the case study,
the data is analyzed through matlab software tool by Monte Carlo
Simulation,which is one of the more flexible method in numerical
analysis.
The results are:
1. When not considering the risks of currency exchange, the
investment revenue is greater than zero by average. Afetr
considering the exchange rate factors, the percentage of the investment
revenue to be less than zero is as high as 40.82%. Thus, risks of
currency exchange should not ignored.
2. After deducting the cost of insurance and additional fees, the yield of
Yearly revenue is less than risk-free interest rate.
3. The low rate of involvement is limited in its influence on
investment rate of return. The contract states that with a 30% of
involvement rate,unless the portfolio growth rate reaches above
120%, can it be greater than the 36% of investment rate of
return.
This research will hopefully become the financial tool in
this time of low-rate investment,in order to provide a reasonable
way for investors to estimate future ROI and investment risks,and
to choose appropriate items according to individual risk tolerance.
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Chuang-Chang Chang |
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Chuang-Chang Chang Hui-Ying Hsu 許卉盈 |
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Hui-Ying Hsu 許卉盈 |
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Hui-Ying Hsu 許卉盈 none |
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Hui-Ying Hsu |
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2010 |
url |
http://ndltd.ncl.edu.tw/handle/47826889297534769517 |
work_keys_str_mv |
AT huiyinghsu none AT xǔhuìyíng none AT huiyinghsu tóuzīxíngbǎoxiǎnshāngpǐnzhīyánjiūyǐquánqiúrénshòulǐnghángtóuzīliánjiéxíngbǎoxiǎnàoshìquánqiúliùniánqīàobìjiégòuxíngzhàiquànwèilì AT xǔhuìyíng tóuzīxíngbǎoxiǎnshāngpǐnzhīyánjiūyǐquánqiúrénshòulǐnghángtóuzīliánjiéxíngbǎoxiǎnàoshìquánqiúliùniánqīàobìjiégòuxíngzhàiquànwèilì |
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