Revised solvency regulations in China

ChinaThe China Banking and Insurance Regulatory Commission (CBIRC) has updated the solvency regulations for insurance companies to come into effect on 1 March 2021.

The new texts aim at strengthening the control of insurers’ solvency and protecting consumers.

The new regulations comprise six chapters and 34 articles based on a three-pillar framework for solvency supervision. The latter namely consist of: Quantitative regulatory requirements, qualitative regulatory requirements and market restriction mechanisms.

Read also | Chinese insurers invest 2 430 billion USD for the real economy

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