China's insurance sector shows fit solvency ratio

The solvency ratio was 188% as of the second quarter.

As of the end of the second quarter of this year, China's insurance sector has maintained a healthy level of solvency, according to Xinhua News Agency.

The National Administration of Financial Regulation (NAFR) data showed that the average comprehensive solvency ratio for 186 insurers assessed during a regulatory meeting was 188% by the end of the second quarter. 

Additionally, their average core solvency ratio reached 122.7%.

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Breaking it down further, property insurance companies had an average comprehensive solvency ratio of 224.6%, life insurance companies stood at 178.7%, and reinsurance companies achieved an impressive 275.2%.

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The NAFR emphasised its commitment to strengthening regulation and promoting the high-quality development of the insurance industry.

Solvency ratios are crucial metrics that assess an insurer's ability to meet its financial obligations and debt.