China's insurance sector maintains adequate solvency in Q2

BEIJING - China's insurance sector posted stable performance in the second quarter (Q2) of this year with enhanced solvency, according to the industry's regulator.

The comprehensive solvency ratio of the 178 insurers reviewed by a regulatory meeting stood at 247 percent by the end of Q2, up 1.7 percentage points compared with Q1, according to the China Banking and Insurance Regulatory Commission (CBIRC).

Their core solvency ratio reached 234.8 percent, up 1.4 percentage points compared with the previous quarter.

The solvency ratio is a key metric to measure an insurer's ability to meet its debt and other obligations.

China's insurance sector ran smoothly with dropping leverage rates and risks generally under control in Q2, the meeting said.

The CBIRC said it would enhance solvency regulation and risk control to promote high-quality growth of the sector.