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Overheat in investment-linked insurance warned

(Agencies)
Updated: 2008-07-16 15:30

Chinese insurers should pay more attention to overheating risk arising from the rapid development of investment-linked insurance products, regulators said.

Data from the China Insurance Regulatory Commission (CIRC) show that investment-linked products contributed up to 79 percent of the country's life insurance premium income in the first half.

The CIRC said in a statement that insurers should enhance their solvency in order to guard against a possible downturn.

According to the CIRC, a total of 12 insurance companies - against 10 from the beginning of the year - had a solvency ratio of less than 100 percent at the end of June, partly due to the turbulence in global stock markets.

Insurers with insufficient solvency levels will be restricted from expanding their business and paying dividends to shareholders, the CIRC said.