Total assets of Chinese insurers rise by 7% to RMB 26.6trn

Written by Adam Cadle

02/09/2022

Total assets of Chinese insurance companies amounted to RMB 26.6trn at the end of Q2 2022, an increase of RMB 1.8trn and up by 7% from the beginning of the year, the China Banking and Insurance Regulatory Commission (CBIRC) has revealed.

Compared with the beginning of the year, assets of P&C companies were RMB 2.7trn, up by 9.3%; assets of life insurance companies were RMB 22.9trn, up by 6.9%; assets of reinsurance companies recorded RMB 649.3bn, up by 7.2%; and assets of insurance asset management companies were RMB 100.8bn, down by 2.1%.

In H1 2022, insurance companies recorded primary insurance premium income of RMB 2.8trn, up by 5.1% year on year.

At the end of Q1 2022, the average comprehensive solvency ratio of Chinese insurers was 224.2%, and the average core solvency ratio was 150%. For the comprehensive risk rating, 50 insurance companies were rated as Class A, 107 as Class B, 15 and Class C and 8 and Class D.

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