China Insurance Regulatory Commission (CIRC) News

China’s Former Insurance Regulator Faces Criminal Charges

China’s top anti-corruption agency says the country’s former insurance regulator has been expelled from the ruling Communist Party and turned over to prosecutors to face criminal charges. A weekend statement by the Central Commission for Discipline Inspection says Xiang Junbo …

China’s Central Bank to Assume Bigger Role in Oversight of Financial System

China’s central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended on Saturday. Financial security is a vital …

China Regulators End Insurer Deal Spree, Favoring Risk Managers, over Risk Makers

The revolution in China’s insurance industry that helped unleash about $80 billion of acquisitions started with a whimper and ended with a bang. With little fanfare, China’s top insurance official, Xiang Junbo, in 2012 rolled out rules giving insurers greater …

China’s Graft-Buster Is Front Runner to Head Insurance Watchdog: Sources

China is likely to name a senior Communist Party graft-buster to oversee the insurance sector, people familiar with the matter said, a signal that the country’s ongoing crackdown on irregular business practices in the financial industry may be set to …

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 …

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 …

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, …