Chinese insurers face tighter regulations on risk management
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.
The China Banking and Insurance Regulatory Commission (CBIRC), China's banking and insurance watchdog, has issued a draft guideline that seeks to tighten its watch on insurance group companies operating in the country, citing the need to protect against financial risks, and has opened a one-month public consultation on the proposal until October 3.
Experts believe that while the move will drive bigger insurance firms to enhance their risk management capabilities, compliance could …
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