Yongan Insurance not only failed in risk rating, but also received supervision letters in succession. According to the information disclosed in the just-released solvency report for the second quarter, Yongan Insurance received a notice of supervision talk in May 20 18 and a supervision letter from the China Banking Regulatory Commission in June 20 18.
The solvency report for the second quarter disclosed by Yongan Insurance shows that as of June 30th, 20 18, its core solvency adequacy ratio and comprehensive solvency adequacy ratio were both 247.03%. Only from these two data, its solvency adequacy ratio can reach the standard, but its comprehensive risk rating in the second quarter was lowered from B in the previous quarter to C.
Extended data:
According to the requirements of the Provisions on the Management of the Solvency of Insurance Companies (Draft for Comment), the solvency adequacy ratio of insurance companies is 50%, the comprehensive solvency adequacy ratio is 100%, and the comprehensive risk rating is above Grade B. All three indicators meet the standards at the same time. If any index fails to meet the standard, it is a company whose solvency fails to meet the standard.
The reasons why Class C companies fail to meet the standards mainly refer to companies whose solvency adequacy ratio fails to meet the standards, or whose solvency adequacy ratio meets the standards, but one or several types of risks are greater in operational risk, strategic risk, reputation risk and liquidity risk. Yongan insurance belongs to this kind of company and needs to be cautious.
People's Daily Online-I just had an interview in May and received a supervision letter in June. Yongan insurance risk rating dropped to C.