中文摘要：

基于对国内保险资金投资风险测量的主流方法VaR和CVaR模型的缺陷进行分析后，本文提出将新的风险度量方法CDaR模型引入到国内保险资金的投资风险管理实践，结合我国保险资金投资管理条例中的相关投资风险约束条件和国内金融市场的实际情况，并考虑到保险资金的资产负债匹配管理要求，提出了有投资约束条件下的保险资金风险管理拓展模型。

英文摘要：

After evaluating the drawback of VaR and CVaR models used in domestic insurance investment risk management practice, this paper tries to lead the new risk measurement tool-CDaR model into domestic insurance fund investment risk practice. Considering the requirement of matching of insur- ance assets and liabilities, practice regulations and financial environment, this paper put forwards the extended insurance fund investment risk management model based on CDaR under investment constraints.