On June 15, the European Insurance and Occupational Pensions Authority (EOIPA) and the China Insurance Regulatory Commission signed a Memorandum of Understanding to set up joint work programs and pursue joint activities.
The main objectives of the MoU are:
- To build a practical framework for exchange of supervisory information.
- To update each other on the developments in the regulatory and supervisory frameworks for insurance and private pensions.
- To increase mutual understanding on the Chinese (C-ROSS) and European (Solvency II) supervisory regimes for insurance.