Total assets of Chinese insurers rise by 7.4% to RMB 33.8trn
Written by Adam Cadle
20/08/2024
Total assets of Chinese insurance companies amounted to RMB 33.8trn as of the end of Q2 2024, up by RMB 2.3trn or 7.4% from the beginning of the year.
Supervisory statistics from the National Financial Regulatory Administration (NFRA) revealed that assets of P&C insurance companies were RMB 3trn, up by 7.6%; assets of personal insurance companies reached RMB 29.4trn, up by 7.4%; assets of reinsurance companies recorded RMB 806.4bn, up by 7.9%; and assets of insurance asset management companies were RMB 122.3bn, up by 16.2%.
As of the end of Q2 2021, the comprehensive solvency ratio of the insurance sector was 195.5%, and the core solvency ratio was 132.4%. The comprehensive solvency ratios of P&C insurance companies, personal insurance companies and reinsurance companies were 237.9%, 185.9% and 259.3% respectively, and the core solvency ratios were 210.2%,115.7% and 226.9% respectively.
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