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On 22 March 2011, the Chinese Insurance Regulatory Commission (“CIRC”) released new draft rules on the administration of representative offices of foreign insurance related institutions (the “Draft Rules”
For more than 4 years prior to the end of 2010 no new approvals for the establishment of Insurance Asset Management Companies (“IAMCs”) had been issued by the CIRC, and only 9 IAMCs existed in the China market
The Financial Services and Treasury Bureau published the “Proposed Establishment of an Independent Insurance Authority Consultation Conclusions and Detailed Proposals” (“Consultation Conclusions”) and the relevant “Frequently Asked Questions” (“FAQs”) on 24 June 2011
