The reporter of Shanghai Securities News learned today that recently, the China Banking and Insurance Regulatory Commission held the 14th working meeting of the solvency regulatory commission, analyzed the solvency and risk status of the insurance industry, and studied the comprehensive risk rating results of insurance companies in the fourth quarter of 2021. Zhou Liang, member of the Party committee and vice chairman of the CIRC, presided over the meeting, and heads of relevant departments of the CIRC attended the meeting.
At the end of the fourth quarter of 2021, the average comprehensive solvency adequacy ratio of 179 insurance companies included in the meeting was 232.1%, and the average core solvency adequacy ratio was 219.7%. The average comprehensive solvency adequacy ratios of property insurance companies, life insurance companies and reinsurance companies were 283.7%, 222.5% and 311.2% respectively. 91 insurance companies were rated as class A, 75 as class B, 8 as class C and 4 as class D.
The meeting pointed out that the CBRC conscientiously implemented the decisions and arrangements of the CPC Central Committee and the State Council, calmly responded to various risks and challenges, persevered in preventing and resolving financial risks, the operation of the insurance industry was generally stable, the solvency adequacy ratio remained within a reasonable range, and the risks were generally controllable.
The meeting stressed that in 2022, the CBRC will fully implement the spirit of the 19th National Congress of the Communist Party of China and all plenary sessions of the 19th National Congress of the Communist Party of China, as well as the spirit of the central economic work conference, adhere to the principle of maintaining stability and seeking progress while maintaining stability, implement the new development concept completely, accurately and comprehensively, resolutely keep the bottom line of no systemic financial risks, and promote the high-quality development of the insurance industry, Welcome the victory of the 20th CPC National Congress with outstanding achievements.
