Securities Times News, a few days ago, the State Administration of Financial Supervision and Administration held a working meeting of the Solvency Supervision Committee to analyze the overall insurance industry and the solvency and risk status of key companies, and studied the comprehensive risk rating results of insurance companies in the first quarter of 2023. By the end of the first quarter of 2023, the average comprehensive solvency adequacy ratio of the 185 insurance companies included in the meeting’s review is 190.3%, and the average core solvency adequacy ratio is 125.7%; the actual capital is 4.7 trillion yuan, and the minimum capital requirement is 2.47 trillion yuan Yuan. The average comprehensive solvency adequacy ratios of property insurance companies, personal insurance companies, and reinsurance companies were 227.1%, 180.9% and 277.7% respectively; the average core solvency adequacy ratios were 196.6%, 109.7% and 240.9% respectively. 53 insurance companies were rated as Class A in comprehensive risk rating, 105 were rated as Class B, 16 were rated as Class C, and 11 were rated as Class D. The comprehensive risk rating remained stable.
The meeting pointed out that the State Administration of Financial Supervision and Administration resolutely implements the centralized and unified leadership of the Party Central Committee on financial work, continues to strengthen and improve insurance supervision, and firmly holds the bottom line of preventing systemic financial risks. In the first quarter of 2023, the development of the insurance industry was better than expected, and the original insurance premium income was 1.95 trillion yuan, a year-on-year increase of 9.2%. In the first quarter, the annualized comprehensive investment yield of insurance funds was 5.24%, showing a positive trend of recovery. The decline in the solvency adequacy ratio narrowed significantly and remained within a reasonable range.
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