Insurance

Measures for the Administration of the Capital Guarantee Funds of Insurance Companies [Full Text Translation]
保险公司资本保证金管理办法
The Measures require insurance companies to deposit capital guarantee funds in more than one bank.

China Insurance Regulatory Commission, Measures for the Administration of the Capital Guarantee Funds of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险险公司资本保证金管理办法
Insurance companies required to deposit capital guarantee funds in more than one bank.

Ministry of Finance and State Administration of Taxation, Plan for Pilot Projects for the Levy of Value-added Tax in Replace of Business Tax [Legislation Digest]
财政部、国家税务总局营业税改征增值税试点方案
Transport and logistics sectors benefit from the new VAT reform.

Tentative Measures for Administration of the Transfer of Insurance Business by Insurance Companies [Full Text Translation]
保险公司保险业务转让管理暂行办法
The Measures set forth the conditions for a transferee of insurance business and the procedure for such transfer.

China Insurance Regulatory Commission, Tentative Measures for Administration of the Transfer of Insurance Business by Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司保险业务转让管理暂行办法
Exit mechanism created for insurance companies.

China Insurance Regulatory Commission, Measures for the Administration of the Anti-money Laundering Work in the Insurance Industry [Legislation Digest]
中国保险监督管理委员会保险业反洗钱工作管理办法
New anti-money laundering measures prohibit equity investment from unlawful fund sources.

China Insurance Regulatory Commission, Measures for the Administration of Subordinated Debt with Fixed Term of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司次级定期债务管理办法
Issue of subordinated debt with fixed term by insurance companies tightened.

China Insurance Regulatory Commission, Measures for the Regulation of insurance Intermediary Service Group Companies (Trial Implementation) [Legislation Digest]
中国保险监督管理委员会保险中介服务集团公司监管办法 (试行)
CIRC sets entry thresholds for insurance intermediary companies.

Ministry of Transport, Circular on Strengthening the Examination, Approval and Administration of Wholly Foreign-owned Shipping Companies [Legislation Digest]
交通运输部关于加强外商独资船务公司审批管理工作的通知
Foreign shipping firms allowed to set up WFOEs in China.

Circular on Launching Pilot Variable Annuity Projects [Full Text Translation]
关于开展变额年金保险试点的通知
Pilot variable annuity projects launched in Beijing, Shanghai, Guangdong, Shenzhen and Xiamen.

Tentative Measures for the Administration of Variable Annuities [Full Text Translation]
变额年金保险管理暂行办法
The Measures detail the two management models of variable annuities and set forth requirements in respect of allocations to the liability reserve and information disclosure.

China Insurance Regulatory Commission, Circular on Launching Pilot Variable Annuity Projects [Legislation Digest]
中国保险监督管理委员会关于开展变额年金保险试点的通知
Pilot variable annuity projects launched in Beijing, Shanghai, Guangdong, Shenzhen and Xiamen.

China Insurance Regulatory Commission, Guidelines for Check and Acceptance in Respect of the Commencement of Business of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司开业验收指引
Insurance companies require Rmb200 million to commence business.

China Insurance Regulatory Commission, Circular on Strengthening the Administration of the Underwriting of Agricultural Insurance [Legislation Digest]
中国保险监督管理委员会关于加强农业保险承保管理工作的通知
CIRC strengthens regulation of the agricultural insurance business.

Careful steps in the bancassurance market
New regulations from banking and insurance authorities aim to better monitor the burgeoning bancassurance market. Foreign insurance companies can expect a long-term and robust relationship with regulators if they cooperate, and are advised to develop suitable products for Chinese customers and lend their experience to the market

Guidelines for Regulation of the Bancassurance Business of Commercial Banks [Full Text Translation]
商业银行代理保险业务监管指引
The Guidelines detail the operating rules for bancassurance business concerning the insurance products, agency fees, sales model, sales, financial accounting, contingency mechanism and intra-industry exchanges.

China Insurance Regulatory Commission and China Banking Regulatory Commission, Guidelines for Regulation of the Bancassurance Business of Commercial Banks [Legislation Digest]
中国保险监督管理委员会、中国银行业监督管理委员会商业银行代理保险业务监管指引
Criteria should be met for selecting bancassurance cooperation counterparties.

China Insurance Regulatory Commission, Circular on Amending the Relevant Provisions of the «Tentative Provisions for the Administration of Insurance Asset Management Companies» [Legislation Digest]
中国保险监督管理委员会关于调整《保险资产管理公司管理暂行规定》有关规定的通知
CIRC revises establishment criteria for insurance asset management companies.

Risk control is key for insurance players when dealing with brokers
Draft regulation will allow more financial institutions to become insurance brokers

China Insurance Regulatory Commission, Circular on Matters Relevant to Regulating the Provision of Security to External Parties by Insurance Institutions [Legislation Digest]
中国保险监督管理委员会关于规范保险机构对外担保有关事项的通知
Insurance institutions not allowed to provide external security.