People's Republic of China Financial Sector Assessment Program : IAIS Insurance Core Principles
Insurance companies in China are closely supervised and generally subjected to appropriate regulation. The China Insurance Regulatory Commission (CIRC) employs a rules based framework and has achieved a high level of regulatory compliance from supe...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/670211468221383136/China-IAIS-insurance-core-principles-detailed-assessment-of-observance http://hdl.handle.net/10986/26545 |
| Summary: | Insurance companies in China are closely
supervised and generally subjected to appropriate
regulation. The China Insurance Regulatory Commission (CIRC)
employs a rules based framework and has achieved a high
level of regulatory compliance from supervised companies.
This assessment of the People's Republic of
China's compliance with International Association of
Insurance Supervisors (IAIS) Insurance Core Principles (ICP)
was carried out as part of the 2010 Financial Sector
Assessment Program (FSAP). The CIRC has principal
responsibility over insurance regulation in China and
conducts its duties through its headquarters in Beijing and
35 regional branches, the insurance bureaus. Insurance
supervision is not limited to the CIRC, as it is affected by
high level regulations issued by the state council. |
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