China’s insurance companies see total assets rise by 4.1% to RMB 24.3trn

Written by Adam Cadle

17/05/2021

Total assets of China’s insurance companies amounted to RMB 24.3trn at the end of Q1 2021, up by 4.1% from the beginning of the year, latest figures have shown.

According to the China Banking and Insurance Regulatory Commission (CBIRC), compared with the beginning of the year, assets of P&C insurers registered RMB 2.5trn, up by 5.9%. Assets of life insurance companies reached RMB 20.7trn, up by 3.8%.

Furthermore, assets of reinsurance companies recorded RMB 541.4bn, up by 9.2%, and assets of insurance asset management companies were RMB 78.4bn, up by 3.1%.

As of the end of Q1 2021, insurance companies had recorded primary insurance premium income of RMB 1.8trn, up by 7.8% year on year.

At the end of Q4 2020, the average comprehensive solvency ratio of the insurance companies with data collected was 246.3%, and the average core solvency ratio was 234.3%.

Related Articles