BEIJING, June 3 (Xinhua) — China’s insurance sector maintained steady operation and adequate solvency in the first quarter of the year, according to data released by the country’s financial regulator.
The average comprehensive solvency ratio of the country’s insurers was 195.6 percent by the end of March, and their average core solvency ratio was 130.3 percent, said the National Financial Regulatory Administration.
Specifically, the average comprehensive solvency ratios of property insurance companies, life insurance companies, and reinsurance companies stood at 206.3 percent, 113.5 percent and 229.1 percent, respectively.
The solvency ratio is a key metric of an insurer’s ability to meet its debt and other obligations.
As of the end of the first quarter, total assets of the insurance companies amounted to 32.9 trillion yuan (about 4.63 trillion U.S. dollars), an increase of 1.4 trillion yuan or 4.4 percent from the beginning of the year, according to the data.
Last week also saw an index measuring the yuan against the Bank for International Settlements currency basket went up 0.16 points from the previous week to 105.53.
The index measuring the yuan against the Special Drawing Rights basket edged down 0.03 points week on week to 94.31.