<p>In this paper, we investigate the impact of solvency regulatory reform on asset-liability maturity mismatch of life insurers in China. Using the formal implementation of China Risk Oriented Solvency System (C-ROSS) as an exogenous shock to the solvency regulatory regime as well as a difference-in-differences model, we find a significant mitigating effect of solvency regulation reform on the maturity mismatch of life insurers. The results are consistent after a series of robustness tests and excluding the confounding events. Further analyses support the “increased regulatory cost effect on the maturity mismatch” and “stronger monitoring effect due to improved quality of disclosure”. Cross-sectional analyses suggest that the mitigating effect on the maturity mismatch is more pronounced for life insurers with higher regulatory costs, with lower disclosure quality before the implementation of C-ROSS, with a poorer ability to hedge interest rate risk before the implementation of C-ROSS, in a more developed financial institutional environment, increasing their allocation to longer-term investment assets, and adjusting their business focus toward security business. Our study sheds light on how the solvency regulation reform shapes risk management strategies of life insurers, expanding the existing literature.</p>