China's insurance companies see total assets rise by 7.4% to RMB 24trn

Written by Adam Cadle

07/09/2021

Total assets of insurance companies in China rose by RMB 1.64trn (7.4%) to RMB 24trn from the beginning of the year to the end of Q2 2021.

According to the China Banking and Insurance Regulatory Commission (CBIRC), assets of property and casualty insurance companies registered RMB 2.5trn, up by 8.5%; assets of life insurance companies reached RMB 20.4trn, up by 7.1%; assets of reinsurance companies recorded RMB 608.8bn, up by 22.8%; and assets of insurance asset management companies were RMB 96.5bn, up by 26.9%.

As of the end of Q2 2021, insurance companies had recorded primary insurance premium income of RMB 2.7trn, up by 4.2% year on year.

The average comprehensive solvency ratio of insurance companies at the end of Q1 2021 was 246.7%, and the average core solvency ratio was 234%.

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