Industry News | Big good! The State Administration of Financial Supervision issued a document to optimize the solvency supervision standards of insurance companies

In order to promote the return of the insurance industry to its roots and stable operation, and better serve the real economy and the people, the State Administration of Financial Supervision and Administration issued the "Notice on Optimizing the Supervision Standards for the Solvency of Insurance Companies" (hereinafter referred to as the "Notice"), while maintaining comprehensive solvency On the basis that the regulatory standards of adequacy ratio of 100% and core solvency adequacy ratio of 50% remain unchanged, the solvency regulatory standards of insurance companies have been optimized based on the actual development of the insurance industry. The "Notice" has ten articles in total, and its main contents include four aspects. The first is to differentially adjust minimum capital requirements. Property insurance companies and reinsurance companies with total assets of more than 10 billion yuan and less than 200 billion yuan, and personal insurance companies with total assets of more than 50 billion yuan and less than 500 billion yuan are required to have a minimum capital of 95% to calculate the solvency adequacy ratio; total assets For property insurance companies and reinsurance companies with total assets of less than 10 billion yuan, and personal insurance companies with total assets of less than 50 billion yuan, the minimum capital is calculated as 90% of the solvency adequacy ratio. The second is to guide insurance companies to return to their basic protection roots. The proportion of insurance company’s future surplus of policies with a remaining term of more than 10 years to be included in core capital will be increased from the current no more than 35% to no more than 40%, and insurance companies will be encouraged to develop long-term protection products. The arithmetic mean of the retrospective deviation rate of unexpired liability reserves after reinsurance for all non-life insurance businesses calculated at the end of the most recent quarter of the property insurance company at the end of the previous two fiscal years, and the arithmetic mean of the retrospective deviation rate of outstanding claim reserves is less than or equal to -5%, the minimum capital requirements for premium risk and reserve risk are reduced by 5%. Among non-basic assets invested by insurance companies, if the underlying assets are for the purpose of recovering principal and fixed interest, and the transaction structure is three levels or less (including surface level), they should be included in the minimum capital measurement scope of interest rate risk to promote insurance companies to strengthen their assets and liabilities. Match management. The third is to guide insurance companies to support the stable and healthy development of the capital market. For insurance companies investing in CSI 300 Index constituent stocks, the risk factor is adjusted from 0.35 to 0.3; for investing in common stocks listed on the Science and Technology Innovation Board, the risk factor is adjusted from 0.45 to 0.4. For investments in publicly offered infrastructure securities investment funds (REITS) that are not penetrated, the risk factor is adjusted from 0.6 to 0.5. Insurance companies are required to strengthen long-term assessment of investment returns and publicly disclose the average investment rate of return and comprehensive investment rate of return in the past three years in the summary of solvency quarterly reports. The fourth is to guide insurance companies to support technological innovation. The risk factor assigned to the equity of unlisted companies in national strategic emerging industries invested by insurance companies is 0.4. Technology insurance operated by insurance companies shall apply property insurance risk factors to measure the minimum capital, and calculate the solvency adequacy ratio at 90%. The "Notice" will be implemented from the date of issuance. The State Financial Supervision and Administration Bureau will, in accordance with the requirements of the Party Central Committee on institutional reform, strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, guide insurance companies to conscientiously implement the "Notice", strengthen solvency management, and further improve Serve the real economy and the people with quality and efficiency.

original link:

http://www.cbirc.gov.cn/cn/view/pages/governmentDetail.html?docId=1126915&itemId=&generaltype=1