一季度险企“体检报告”出炉：偿付能力保持充足，4家机构因评级不达标亮红灯丨南财保险测评（第98期）

Core Insights - The insurance sector's solvency remains robust, with a comprehensive solvency adequacy ratio of 204.5% and a core solvency adequacy ratio of 146.5% as of the end of Q1 2025 [1][9] - Despite overall strong solvency, four insurance companies failed to meet solvency standards due to risk comprehensive ratings [2][3] Solvency Ratios - Property insurance companies have a comprehensive solvency adequacy ratio of 239.3%, while life insurance companies stand at 196.6%, and reinsurance companies at 255% [1][9] - Core solvency adequacy ratios for property, life, and reinsurance companies are 209.5%, 132.8%, and 221.6% respectively [1][9] Companies Below Standards - Four companies, including one life insurance and three property insurance firms, did not meet solvency standards due to a C-level risk comprehensive rating [2][3] - The companies failing to meet standards are Huahui Life, Huazhong Insurance, Anhua Agricultural Insurance, and Asia-Pacific Property Insurance [2] Risk Management Issues - Huahui Life has been rated C for 12 consecutive quarters due to governance issues, although its solvency remains adequate [3] - Huazhong Insurance and Anhua Agricultural Insurance also reported C ratings, citing governance risks and ongoing rectification efforts [3][4] Improvement Measures - Asia-Pacific Property Insurance's risk rating dropped from B to C, prompting the company to enhance data accuracy and compliance [4] - Companies like Beida Fangzheng Life and Sanxia Life have improved their ratings to B or above, indicating successful rectification efforts [6][8] Capital Increase Initiatives - Companies are actively increasing capital to enhance solvency, with Zhonghua United Life planning to raise its registered capital by 1.2 billion yuan [11] - The ongoing implementation of the "Solvency II Phase II" project poses challenges for capital replenishment and asset-liability management [11]