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Insurance institutions may invest in corporate debentures
- Edwards Wildman Palmer LLP
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- China
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- January 12 2010
The China Insurance Regulatory Commission (CIRC), the insurance industry regulator in the People's Republic of China, issued a circular on 31 December 2009, permitting insurance institutions to invest in corporate debentures which are issued in the domestic inter-bank market provided that the corporate debentures satisfy the relevant applicable requirements and have a credit rating of AAA or a long-term credit rating equivalent to AAA assigned by domestic credit rating institutions
Draft Tentative Measures for the Administration of the Use of Insurance Funds
- Edwards Wildman Palmer LLP
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- China
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- January 13 2010
The China Insurance Regulatory Commission (CIRC) released on 25 December 2009 Draft Tentative Measures for the Administration of the Use of Insurance Funds (the "Draft Tentative Measures") for public consultation
New accounting standards for insurance companies
- Edwards Wildman Palmer LLP
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- China
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- January 11 2010
The Chinese Ministry of Finance (MoF) and the China Insurance Regulatory Commission (CIRC), the insurance industry regulator in the People's Republic of China, have jointly issued detailed rules requiring insurance companies to adopt new accounting standards in compiling their 2009 financial reports
Insurance market performance in 2009
- Edwards Wildman Palmer LLP
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- China
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- March 12 2010
According to the Statistics on China Insurance Business for 2009 recently published by the China Insurance Regulatory Commission (CIRC), total insurance premiums in China received in 2009 amounted to RMB 1.11 trillion, up 13.8 from 2008
New York Insurance Department announces cooperation agreement with China
- Edwards Wildman Palmer LLP
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- China, USA
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- July 30 2009
On Tuesday, July 28, 2009, Acting New York State Insurance Department ("NYSID") Superintendent Kermitt Brooks announced that the NYSID entered into a Memorandum of Understanding ("MoU") with the International Department of the China Insurance Regulatory Commission ("CIRC"), China’s insurance regulator
The China Insurance Regulatory Commission proposes to lift interest rate cap
- Edwards Wildman Palmer LLP
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- China
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- August 3 2010
On 11 July 2010 the China Regulatory Commission (the CIRC) stated that it proposed to remove restrictions on insurance companies in China in deciding the assumed (or guaranteed) interest rates for "conventional" (non-participating) life insurance policies in order to protect consumers' interests and encourage innovation in the sector
Hong Kong and Guangdong sign cooperation agreement
- Edwards Wildman Palmer LLP
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- China, Hong Kong
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- April 16 2010
The Governor of Guangdong Province, representing the Guangdong Provincial Government, and the Chief Executive of the Hong Kong Special Administrative Region (the SAR) signed a Framework Agreement on Hong KongGuangdong Co-operation (the Framework Agreement) at a signing ceremony in Beijing on 7 April 2010
Chinese drywall - Chinese President says that he will look into drywall responsibility
- Edwards Wildman Palmer LLP
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- China, USA
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- April 21 2010
United States Senator Bill Nelson (D-Fla.) reports that, this week, Chinese president Hu Jintao told him this week that he would investigate problems with Chinese manufactured drywall
China Insurance Regulatory Commission in call for insurers to develop e-insurance
- Edwards Wildman Palmer LLP
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- China
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- June 22 2010
Domestic insurers in China are being encouraged by the China Insurance Regulatory Commission (the CIRC) to grow new business through electronic commerce in order to optimize the structure of sales channels and foster the growth of new business
China regulator expands limits on bond investment by insurers
- Edwards Wildman Palmer LLP
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- China
- -
- June 24 2010
On 26 May 2010, the China Insurance Regulatory Commission (the CIRC) announced that it is considering liberalising current restrictions on investments by People's Republic of China insurance companies in stocks and bonds
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