China News Service, May 14th, according to the website of the China Insurance Regulatory Commission, the China Insurance Regulatory Commission held a working meeting of the Solvency Supervision Committee. The meeting pointed out that due to factors such as the new coronary pneumonia epidemic, the pressure on the insurance industry in the first quarter of this year increased and the pace of development Slowing down, but the solvency is generally sufficient and the risks are controllable.
Data map: Banking and Insurance Regulatory Commission. Photo by Jia Tianyong, China News Agency reporter
According to data from the China Insurance Regulatory Commission website, at the end of 2019, the average comprehensive solvency adequacy ratio of the 178 insurance companies included in the meeting was 247.7%, the average core solvency adequacy ratio was 236.8%, and the average of property insurance companies, life insurance companies, and reinsurance companies The comprehensive solvency adequacy ratios were 284.2%, 240.7%, and 304.1% respectively; 103 insurance companies were rated comprehensive risk rating A, 69 were rated B, 4 were rated C, and 1 was rated Class D.
At the end of the first quarter of 2020, the average comprehensive solvency adequacy ratio of insurance companies included in the meeting was 244.6%, a decrease of 3.1 percentage points from the end of the previous quarter, and the core solvency adequacy ratio was 233.6%, a decrease of 3.2 percentage points from the end of the previous quarter. The average comprehensive solvency adequacy ratios of property insurance companies, life insurance companies, and reinsurance companies were 288.1%, 237.3%, and 290.3%, respectively; 102 insurance companies had comprehensive risk ratings rated as Class A, 72 were rated as Class B, and 3 One was rated as Category C, and one was rated as Category D.
The meeting believed that after the outbreak, the insurance industry fully exerted its risk protection function, proactively assumed social responsibilities, continuously optimized insurance services, fully supported the fight against the outbreak, and helped enterprises to resume production and make positive contributions.