New measures tighten the administration of investment into the insurance sector, but now foreign participants can expect equal treatment with domestics on shareholding ratio requirements. And for the first time, the new rules address horizontal competition
Shareholding restriction on single shareholders of insurance companies relaxed.
Market access prohibition is now an administrative penalty for the insurance industry.
Insurance companies required to disclose seven types of information.
Establishments of insurance companies classified into four grades for regulation.
The Measures classify establishments of insurance companies into four grades based on the companies' risk positions and impose regulatory measures accordingly.
The CIRC may release a major shareholder from the restriction on shareholding percentage if it satisfies certain provisions.
The Measures specify the information that an insurance company is required to disclose as well as the method and time of disclosure.
Shenzhen-based James Jun Yao, chief legal officer at Ping An Insurance, speaks with CLP about the various stages of risk management
CIRC sets forth the measures for the establishment of insurance group companies.