Full liberalization of life tariffs

China Insurance Regulatory Commission (CIRC) has just completed the liberalization reform of life insurance products' pricing. Insurers are, henceforth allowed to determine their own interest rates that were previously set at 2.5%.

We should note that CIRC has already started the liberalization of interest rates for term and universal life insurance. This decision, taking effect on 1st October 2015, aims to boost competition among insurers.