CBIRC releases Q2 2021 figures

The China Banking and Insurance Regulatory Commission has released the figures for the second quarter of 2021. According to the figures at the end of 2021 Q2, total assets of the insurance companies amounted to CNY24 trillion, an increase of CNY1.64 trillion and up by 7.4 percent from the beginning of the year.

Compared with the beginning of the year, assets of property and casualty insurance companies registered CNY2.5 trillion, up by 8.5 percent; assets of life insurance companies reached CNY20.4 trillion, up by 7.1 percent; assets of reinsurance companies recorded CNY608.8 billion, up by 22.8 percent; assets of insurance asset management companies were CNY96.5 billion, up by 26.9 percent.

Insurance companies had recorded primary insurance premium income of CNY2.7 trillion, up by 4.2 percent year on year. The claim and benefit payments reached CNY753.1 billion, up by 21.4 percent year on year. The number of new insurance policies issued in the first half of 2021 was 22.1 billion, down by 7.4 percent year on year.

At the end of 2021 Q1, the average comprehensive solvency ratio of the insurance companies with data collected was 246.7 percent, and the average core solvency ratio was 234 percent.