The types of actual assets mentioned in the preceding paragraph and their recognition rates shall be stipulated by the China Insurance Regulatory Commission, and the actual asset value shall be the sum of the recognized values of all recognized assets.
The minimum solvency of property insurance and short-term personal insurance business is the greater of the following two:
1, the retained premium in this fiscal year is less than 1 100 million yuan, accounting for 18%, and the part above 1 100 million yuan accounts for 16%.
2. In the last three years, the average annual compensation amount was less than 70 million yuan, accounting for 26% and more than 70 million yuan, accounting for 23%.
For insurance companies that have been operating for less than three years, the standard specified in item 1 shall be adopted.
The minimum solvency limit of long-term life insurance business is the sum of the following two items:
1, 4% of the life insurance liability reserve at the end of the fiscal year for general life insurance business and 1% of the life insurance liability reserve at the end of the fiscal year for investment-linked business.
2. 0. 1% risk protection for periodic death insurance with an insurance period of less than three years, 0. 15% risk protection for periodic death insurance with an insurance period of three to five years, and 0.3% risk protection for periodic death insurance with an insurance period of more than five years and other types of insurance.
In statistics, if the insurance period of regular death insurance is not divided, it will be calculated as 0.3% of the risk insured amount.
Extended data
The solvency supervision shall be implemented by the CIRC, that is, to check the solvency of insurance companies and judge whether the insurer's financial situation can ensure its financial responsibility and long-term business maintenance.
Solvency refers to the insurer's ability to fulfill the liability of compensation or payment. Insurers should have the minimum solvency commensurate with their business scale, and solvency supervision is also the core content of the state's supervision and management of the insurance market.
Solvency can be divided into minimum solvency and actual solvency.
The minimum solvency of an insurance company is the solvency requirement that an insurance company must meet, that is, the difference between assets and liabilities recognized by the insurance company that must be reached during the insurance company's existence as stipulated by insurance laws and regulations.
The actual solvency refers to the recognized capital adjusted according to regulatory provisions and accounting standards, that is, the difference between recognized assets and recognized liabilities. The difference between authorized assets and authorized liabilities of an insurance company must be greater than the amount stipulated by insurance laws and regulations, otherwise the insurance company will be regarded as insolvent.