Total assets of Chinese insurance companies rise by 9% to RMB 29.6trn

Written by Adam Cadle

03/01/2024

Total assets of Chinese insurance companies amounted to RMB 29.6trn at the end of Q3 2023, an increase of RMB 2.4trn and up by 9% from the beginning of the year, according to latest figures published by the country’s National Financial Regulatory Administration (NFRA).

Assets of P&C insurance companies amounted to RMB 2.8trn, up by 6.6% compared to the beginning of the year. Assets of personal insurance companies reached RMB 25.4trn, up by 8.9%; assets of reinsurance companies recorded RMB 769.2bn, up by 14.5%; and assets of insurance asset management companies were RMB 104.1bn, up by 0.5%.

As of the end of Q3 2023, the comprehensive solvency ratio of the insurance sector was 194%, and the core solvency ratio was 126%. The comprehensive solvency ratios of property and casualty insurance companies, personal insurance companies and reinsurance companies are respectively 232%, 184.1% and 278.3%, and the core solvency ratios are respectively 200%, 108.6% and 242.3%.

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