Tougher insurance regulation in China

ChineChina Banking and Insurance Regulatory Commission (CBIRC) has introduced a new regulation. The objective is to ensure better monitoring of companies and institutions that are partners of insurance companies. It is about putting an end to a number of practices that undermine the security of certain financial transactions.

The new regulation thus limits to 30% of total assets, the investments of an insurer in companies owned by its own shareholders or affiliated companies.

In addition, tougher sanctions are intended to penalize excesses. As a reminder, in the first eight months of 2019, CBIRC imposed a 76.8 million CNY (10.8 million USD) fine on insurers for activities that did not comply with the required standards.

Read also | The Chinese regulator to strengthen the prudential rules

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