CIRC implements new solvency rules for insurers
China's insurers will have until December 31 to tweak their asset portfolios to meet new ratios. Foreign-affliated insurers are expected to file reports separately.
Following the announcement in July this year of its plan to overhaul solvency rules in China and its overall assessment of the outstanding risk exposure of the industry in August, the China Insurance Regulatory Commission (CIRC) says it has introduced new rules for the requirements of minimum capitalisation for the industry and is ready to implement these with immediate effect. Insurance companies will have until December 31 to meet the new targets.The new rules will tighten requireme…
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