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CIRC: Strengthening the authenticity inspection of solvency data of insurance companies



Recently, the CIRC convened the 41st working meeting of the Solvency Supervision Committee. The meeting analyzed the solvency and risk status of the insurance industry in the 4th quarter of 2017, considered the results of the risk assessment of insurance companies in the 4th quarter, and made arrangements for the next phase of solvency supervision and risk prevention and control work.

The Meeting noted that the current solvency of the insurance industry is sufficiently stable. At the end of the 4th quarter of 2017, the average comprehensive solvency ratio of the 169 insurers included in the present meeting was 251%, down 2.4% from the previous quarter, and 7.4% per cent at the beginning, with an average core solvency ratio of 240% per cent, Fell 1.4% from the previous quarter, down 0.7% from the beginning. After deliberation, 108 insurance companies in the risk comprehensive rating was rated a company, 57 were rated B companies, 1 companies were rated category C, 2 companies were rated category D.

The meeting stressed that the decline in industry solvency has been effectively controlled since the release of the "1+4" series in the 2nd quarter of last year, but the risk situation in the insurance sector remains grim. The CIRC will put a more prominent position in the prevention and mitigation of risks and strictly observe the bottom line of not taking place systemic financial risks. In particular, it is important to strengthen the authenticity inspection of solvency data and monitor the liquidity risk, and guide the insurance company to establish prudent management concept.