A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. [Photo/IC]
BEIJING - China's insurance sector maintained steady operation and adequate solvency in the third quarter of the year, according to data released by the country's financial regulator on Friday.
The average comprehensive solvency ratio of the country's insurers was 197.4 percent by the end of September, and their average core solvency ratio was 135.1 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 231.8 percent, 188.9 percent and 262.7 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 third quarter, the total assets of the insurance companies and insurance asset management companies amounted to 35 trillion yuan ($4.87 trillion), an increase of 3.5 trillion yuan or 11.2 percent from the beginning of the year, according to the data.
