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China’s insurance sector runs smoothly with risks controllable

Updated: Jun 8,2019 10:54 AM     Xinhua

BEIJING — China’s insurance sector is running smoothly with risks generally under control, according to the country’s banking and insurance regulator.

The comprehensive solvency ratio of the 178 insurers reviewed by a regulatory meeting stood at 245.3 percent by the end of the first quarter of 2019, up 3.3 percentage points compared with the fourth quarter of 2018, according to the China Banking and Insurance Regulatory Commission (CBIRC).

Their core solvency ratio reached 233.4 percent, up 2.8 percentage points compared with the previous quarter.

The solvency ratio is a key metric to measure an insurer’s ability to meet its debt and other obligations.

The CBIRC said it would enhance solvency regulation and risk control to promote high-quality growth of the sector.