Chinese insurers’ average comprehensive solvency ratio at 220.8%

Written by Adam Cadle

14/09/2022

The average comprehensive solvency ratio of Chinese insurance companies at the end of Q2 2022 was 220.8%, and the average core solvency ratio was 148.1%, figures published by the China Banking and Insurance Regulatory Commission (CBIRC) have revealed.

The average comprehensive solvency ratios of property and casualty insurance companies, life insurance companies and reinsurance companies were 238.5%, 214.7% and 310.4% respectively, and the average core solvency ratios of property and casualty insurance companies, life insurance companies and reinsurance companies were 203.7%, 134.1% and 281.2% respectively.

At the 17th meeting of the Solvency Supervisory Committee, it was stated that the solvency ratio was kept within a reasonable range, and the insurance industry continued to maintain steady performance with risks generally under control.

It was stressed that the CBIRC should think and act in line with the Central Government’s analysis and judgment on the economic situation as well as decisions on the economic work.

“The CBIRC should also strengthen confidence, deepen reform, prevent risks, reinforce the risk protection function of insurance, improve the quality and efficiency of serving the real economy, and strive to promote the quality development of the insurance industry,” the meeting outlined.

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