Total assets of Chinese insurance companies at ¥29.4trn

Written by Adam Cadle

22/05/2023

Total assets of Chinese insurance companies were ¥29.4trn at the end of Q1 2023, an increase of ¥1.22trn from the beginning of the year, according to the China Banking and Insurance Regulatory Commission (CBIRC).

Total assets of property insurance companies were ¥2.8trn, an increase of 5.1% from the start of the year, and total assets of life insurance companies were ¥24.3trn, an increase of 4% from the beginning of the year. Total assets of reinsurance companies were ¥702.3bn, an increase of 4.5% in the same period.

The average comprehensive solvency adequacy ratio of the 181 insurance companies included in the meeting’s review was 196%, and the average core solvency adequacy ratio was 128.4%.

Forty-nine insurance companies were rates as Class A in the comprehensive risk rating, 105 insurance companies were rated as Class B, 16 insurance companies were rates as Class C, and 11 insurance companies were rated as Class D.

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