China's insurance sector reports stable, sufficient solvency: banking regulator

BEIJING - China's insurance sector has reported stable operation since the beginning of this year, with the solvency ratio within a reasonable range, the country's banking regulator said Monday.

The country's leverage ratio is stable and moderate, and risks are generally controllable, said the China Banking and Insurance Regulatory Commission.

The solvency adequacy ratio, an indicator of a firm's long-run financial health, of 178 insurance companies were reviewed at a work conference of the solvency supervision committee held by the commission.

At the end of the third quarter, the comprehensive solvency adequacy ratio of these companies stood at 246.5 percent, down 0.5 percentage points from the previous quarter.

During the period, their core solvency adequacy ratio rose 0.4 percentage points to 235.2 percent, according to the commission.

The commission said it will continue to deepen the financial supply-side structural reform, promote the solvency supervision and risk prevention and control, and make efforts to prevent and defuse financial risks.