Regulator probes insurance industry
BEIJING: Only five insurers out of 170 surveyed were near regulatory red lines in the first quarter, said China’s insurance regulator yesterday. The comprehensive solvency ratio for the industry reached 238 per cent at the end of the first quarter, compared with 247 per cent at the end of last year, said the China Insurance Regulatory Commission. The industry’s core solvency margin for the industry reached 221 per cent, far above the regulatory threshold of 50 per cent, it said. The industry’s real capital amounted to 3.4 trillion yuan (RM2.12 trillion) at the end of March.