ARTICLE
25 May 2016

China To Nominate Important Insurers

AB
AnJie Broad Law Firm

Contributor

AnJie Broad Law Firm is a full-service law firm with a wide range of practice areas. We are committed to delivering high-quality bespoke legal solutions to clients. AnJie Broad has extensive experience serving clients in practice areas such as Capital Market & Securities, Antitrust & Competition, Private Equity & Venture Capital, Intellectual Property, Dispute Resolution, Labor & Employment, Cross-border Investment & Acquisition, Insurance & Reinsurance, Maritime & Shipping, Banking & Finance, Energy, International Trade, Technology Media & Telecommunications, Life Sciences & Healthcare, Private Wealth Management, Real Estate & Construction, Hotels Resorts & Tourism and Media, Game and Entertainment & Sports.
BEIJING - China Insurance Regulatory Commission said Friday it will unveil a name list of "systematically important insurers" and issue a series of measures to improve supervision of them.
China Insurance

BEIJING - China Insurance Regulatory Commission said Friday it will unveil a name list of "systematically important insurers" and issue a series of measures to improve supervision of them.

Those insurers on the list must make appropriate risk-management plans and ensure they are implemented and offer professional guidance, Liang Tao, deputy head of the commission, said in a statement.

Liang spoke highly of the plan to supervise important insurers, saying it would help guard against risks that would be felt by the whole industry.

The insurance regulator vowed to adhere to international standards when formulating its own regulatory system, which would cater to the needs of China's macro-prudential regulation bias and business processes at large.

The outbreak of the 2008 financial crisis exposed the too-big-to-fail insurers' role in the global financial system and the necessity to fill supervision gaps, according to the statement.

(Source: Xinhua)

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More