China: Regulierer definiert Regeln für branchenfremde Tochtergesellschaften

16.10.2014 – Die chinesische Regulierungsbehörde (CIRC) hat die Regeln für branchenfremde Tochtergesellschaften von internationalen Versicherungsunternehmen aufgestellt.

Asia Insurance Review says: CIRC said that the non-insurance subsidiaries of insurance companies, whether at home or abroad, fall in four main categories: banks, securities firms, trust companies and other financial services units; shared-services companies that operate some of the functions of an insurance company; companies upstream or downstream in the insurance sector in which an insurance company has an investment and companies engaged in other businesses.

The rules regularise the insurance companies’ investment and management of non-insurance subsidiaries in five areas: investing and establishing a non-insurance subsidiary; management of the subsidiary; inter-company transactions with the subsidiary; outsourcing to the subsidiary, and building a firewall between the insurance companies and their subsidiaries. CIRC said that it would not directly supervise the non-insurance subsidiaries of insurance companies. (vwh)

Link: China: Regulator issues rules for non-insurance units of insurers (Asia Insurance Review)

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