Total assets of China’s insurance companies rise by 11.5% to RMB 24.9trn

Written by Adam Cadle

28/02/2022

Total assets of China’s insurance companies amounted to RMB 24.9trn at the end of Q4 2021, an increase of RMB 2.6trn and up by 11.5% from the beginning of the year, the China Banking and Insurance Regulatory Commission (CBIRC) has said.

Compared with the beginning of the year, assets of property and casualty insurance companies registered RMB 2.5trn, up by 6%; assets of life insurance companies reached RMB 21.4trn, up by 12.4%; assets of reinsurance companies recorded RMB 607.5bn, up by 22.2%; assets of insurance asset management companies were RMB 103bn, up by 35.4%.

At the end of Q3 2021, the average comprehensive solvency ratio of the insurance companis with data collected was 240%, and the average core solvency ratio was 227.3%.

For the comprehensive risk rating, 88 insurance companies were rated as Class A, 78 as Class B, 10 as Class C and 2 as Class D.

Related Articles