Chinese insurers’ total assets rise by 10.4%

Written by Adam Cadle

12/06/2024

Total assets of Chinese insurance companies amounted to RMB 32.9trn as of the end of 2024, up by RMB 1.4trn or 10.4% from the beginning of the year, latest supervisory statistics published by China’s National Financial Regulatory Administration have revealed.

Assets of P&C insurance companies registered RMB 2.9trn, up by 4.4%; assets of personal insurance companies reached RMB 28.6trn, up by 4.4%; assets of reinsurance companies recorded RMB 775.1bn, up by 3.8%; and assets of insurance asset management companies were RMB 120.9bn, up by 14.9%.

By the end of Q1 2024, insurance companies had recorded primary insurance premium income of RMB 2.2trn, up by 5.1% year on year.

The comprehensive solvency ratio of the insurance sector as 195.6%, and the core solvency ratio was 130.3%. The comprehensive solvency ratios of property and casualty insurance companies, personal insurance companies and reinsurance companies were respectively 234.1%, 186.2% and 264.4%, and the core solvency ratios are respectively 206.3%, 113.5% and 229.1%.

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