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Insurance (General)

265 posts

CBIRC summons insurers over guaranteed returns

The problem facing China’s insurers is the opposite of the one recently confronted by Silicon Valley Bank (SVB). As US interest rates rose, the value of SVB’s stock of treasury holdings declined, making it increasingly difficult for the lender to manage its liquidity needs…
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CBIRC names and shames four insurers for inaccurate solvency data

  • Alex Yang
  • Posted on
The amount of money involved in these transgressions isn’t significant – for AIA it adds up to less than RMB 50 million, which wouldn’t have much impact on its overall solvency ratio. But that’s not the point – this is all about compliance and ensuring staff know exactly what they are supposed to be doing under the new C-ROSS II framework…
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CBIRC issues new rules on consumer protection for banking and insurance institutions

These measures are the latest in a long line of regulations issued by the central bank and the CBIRC to improve protection for consumers of financial products and ensure that the business practices of banking and insurance institutions do not take advantage of their customers. Financial literacy in China is weak and consumers have frequently fallen victim to unscrupulous sales practices and promises of fool-proof investments, not to mention the illegal collection and sale of personal data…
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CBIRC announces list of financial institutions eligible to participate in China’s private pension system

While China’s rapidly aging population makes the development of the third pillar of the pension system an increasingly urgent priority, regulators are approaching its rollout with characteristic caution. The initial cohort of financial institutions have been carefully screened for their financial stability and business practices to ensure that the system’s debut is as smooth as possible.
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CBIRC highlights achievements in development of property & casualty insurance sector

Although China’s property insurance & casualty industry has experienced significant growth over the past decade, policymakers want to see the sector play a bigger role in supporting the economy and national development goals. As China seeks to move its economy up the value chain, transitioning from a period of fast-paced growth to higher-quality growth, property insurance will be critical to backstopping hard won economic gains.
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