Collective trusts that insurers are allowed to invest in are confined to those backed by financing assets and non-listed equity assets, according to draft rules posted on the website of China Insurance Regulatory Commission [CIRC].
Collective trusts backed by fixed-income assets that insurers are allowed to invest in should have a rating of at least “A” by a Chinese rating agency, according to the statement.
Chinese insurers are banned from investing in stand-alone trusts, and trusts backed by assets in industries that are prohibited by the government, the statement said.
The regulator is soliciting opinions on the draft rules.
–With assistance from Jesse Drucker in New York, Tom Schoenberg in Washington, Vinicy Chan in Hong Kong and Ludi Wang in Beijing.
Was this article valuable?
Here are more articles you may enjoy.
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
World’s Growing Civil Unrest Has an Insurance Sting 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
