AsiaInsuranceReview-Regulatoryupdates.pdfVIP

Asia Insurance Review - Regulatory updates PwC brings you a roundup of key regulatory activities around the region in the recent few months. CIRC sets up strategy advisory committee January 2017 China CIRC has set up a strategy advisory committee, Regulator promotes more new insurers in comprising experts in areas such as economics, inland regions of the country finance, insurance and disaster management. Approvals to set up new insurance companies in Members of the panel will give advice on issues China in 2016 shows preference being given to related to insurance, including how the industry investors willing to set up insurance ventures in the can serve the economy, manage risks and protect interiors of the country. the livelihood of the insured. CIRC has said that the regulator’s approval criteria The committee would contribute to formulate will currently focus on underserved regions of the regulatory policies, improve regulatory system and country such as Tibet, Qinghai, Gansu, and Inner establish new approaches to supervision, to help in Mongolia etc. reform and development of the insurance industry. More insurance players to list on the Regulator moves against insurance funds third Board indulging in stock speculation CIRC will now provide official encouragement for CIRC has moved to curb short-term speculative insurance companies to secure a lis