Insurance Law

Premiums raised for mandatory traffic accident insurance.

Hong Kong and Macao insurance agencies allowed to set up wholly-owned insurance agencies on the mainland.

Shanghai introduces basic medical insurance for urban residents.

National LegislationAVIATION AND AEROSPACESeveral Opinions Relevant to the Promotion of Development of the Satellite Application Industry关于促进卫星应用产业发展的若干意见L4700/07.11.18BANKINGCircular…

More stringent risk management required of reinsurance cedents.

First set of measures to regulate old-age pension insurance.

Old-age pension insurance companies allowed to conduct enterprise annuity business throughout China.

The Circular provides guidelines to reinsurance contracts and retrocession contracts whose term commences on or after January 1 2008 as to risk management mechanism, financial strength ratings, paid-in monetary capital, solvency and trading history requirements for the selection of a reinsurance cedent.

Guidelines for insurance companies to cope with compliance risks.