China Insurance Regulatory Commission (CIRC) News

China Probes More Officials at Nation’s Insurance Regulator: Sources

Chinese investigators have questioned at least two more officials at the nation’s insurance watchdog after starting a probe into the agency’s former top official Xiang Junbo, according to a person with knowledge of the matter. The officials, including former China …

China’s Anbang Denies Accusation It Lied About Finances

The Chinese insurer that bought New York City’s Waldorf Astoria Hotel is fighting an accusation by China’s leading business magazine that it lied about its finances. The report by Caixin follows a series of foreign acquisitions by Anbang Insurance Group …

China’s Probe of Regulatory Chief Won’t Slow Insurers’ Overseas M&A: Opinion

Xiang Junbo, the man on whose watch China’s insurance industry flourished, is now himself under investigation. As Bloomberg News reported over the weekend, China’s anti-graft agency is probing the nation’s top insurance official as the government steps up a bid to …

Chairman of China’s Insurance Regulator Investigated for ‘Severe’ Violations  

China’s anti-graft agency is probing the nation’s top insurance official Xiang Junbo as the government steps up a bid to rein in financial risks amid an economic slowdown. Xiang, chairman of the China Insurance Regulatory Commission, is under investigation on …

Chinese Watchdog Weighs Relaxing Rules for Big Insurers’ Overseas M&A

China’s insurance regulator is considering an industry shake-up that could see the biggest and most solvent firms resuming an overseas expansion, while smaller, riskier insurers would come under tighter scrutiny. The plan being discussed would see the China Insurance Regulatory Commission (CIRC) move from …

China Regulator Puts Brakes on Insurers’ 3-Year, $100-Billion Buying Spree

A regulatory clampdown on speculation by insurers and new limits on outbound capital flows are causing one of China’s most acquisitive industries to hit the brakes. Chinese insurers, after announcing almost $100 billion of deals over the past three years, …

China Regulator Urges Insurers to Avoid ‘Reckless’ Offshore Investments: Report

A senior Chinese insurance regulator warned against the industry’s reckless overseas investment, saying some insurers behaved recklessly when it came to offshore acquisitions, the official Securities Times reported on Thursday. Chen Wenhui, vice chairman of the China Insurance Regulatory Commission (CIRC) urged insurers to …

China in Midst of Insurtech Boom: Opinion

While China’s fintech boom continues unabated, another fast-growing phenomenon has gone almost unnoticed — so-called insurtech, the latest industry to be spawned by the intersection of online finance and the world’s biggest army of internet shoppers. Even as Chinese regulators …

China Regulator Proposes Insurer Ownership Limits to Curb Risky Investments

Proposed ownership limits at Chinese insurance companies could effectively stop conglomerates such as China Evergrande Group and Baoneng Group from using their insurance units to help fund acquisitions and riskier investments. The draft China Insurance Regulatory Commission’s (CIRC) proposals, unveiled last week, would cap individual ownership …

China’s Regulator Toughens Insurer Licensing Requirements: Sources

China’s insurance regulator is making it much tougher for insurers to get new licenses as it seeks to reduce risks resulting from the aggressive business and investment practices of some players, said three people with knowledge of the matter. Concerns about …