China News Service, Beijing, January 5th (Reporter Wang Enbo) The Financial Accounting Department (Solvency Supervision Department) of the China Banking and Insurance Regulatory Commission issued the "Notice on the Inauthentic Solvency Data of Four Insurance Companies" on the 5th, notifying the 2022 payment During the ability authenticity inspection, it was found that the solvency data of four insurance companies including Zheshang Property Insurance, Ancheng Property Insurance, PICC Life Insurance, and AIA Life Insurance were not true.
Solvency supervision is an important part of the prudential supervision of insurance companies, and inauthentic solvency data directly affects the quality and effectiveness of supervision.
According to the report, Zheshang Property & Casualty Insurance had problems such as failure to withdraw minimum capital as required, inaccurate calculation of liquidity risk indicators, incomplete filling of solvency statements, and inaccurate reporting of risk comprehensive rating data.
For example, in the company's solvency report for the first quarter of 2022, when calculating the minimum capital for counterparty default risk of deposits, the basic factor was wrongly selected, and the minimum capital was 8.076 million yuan (RMB, the same below).
In addition to failing to accrue the minimum capital according to the regulations, Ancheng Property & Casualty Insurance also has the problem of false reporting of comprehensive risk rating data.
In the company's comprehensive risk rating data for the first and second quarters of 2022, 43 items of data such as the number and turnover rate of sales personnel, underwriting and compensation personnel, senior management personnel of branches, and the failure rate of insurance contract dispute litigation cases were filled in falsely.
PICC Life Insurance has problems such as failing to measure the minimum capital for interest rate risk in accordance with the regulations, failing to measure the minimum capital through penetration according to the regulations, not adjusting the accounting method for equity investment in a timely manner, and reporting inaccurate risk comprehensive rating data, etc.
Some of the company's investment assets did not agree on deterministic cash flow, but the minimum capital of interest rate risk was measured in violation of regulations, resulting in the under-accrual of minimum capital of 725 million yuan and 891 million yuan in the solvency report for the first and second quarters of 2022.
In addition, AIA Life Insurance also has problems such as not accruing minimum capital according to regulations, not measuring actual capital according to regulations, and filling in false risk comprehensive rating data.
The Financial and Accounting Department (Solvency Supervision Department) of the China Banking and Insurance Regulatory Commission stated that it will deal with the above-mentioned behaviors in accordance with laws and regulations; Solvency Regulatory Rules (II)" and related documents are prepared to compile reports and fill in data to ensure that various solvency data are true, accurate and complete, and to continuously improve the quality and efficiency of solvency management.
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