China to increase supervision of insurance firms
Beijing
CHINA'S insurance regulator said on Sunday that it will ramp up its supervision of insurance companies to make sure they comply with tighter risk controls and threatened to investigate executives who flout rules aimed at rooting out risk-taking.
The China Insurance Regulatory Commission said in a notice on its website that it had told companies to strengthen controls in 10 areas, including liquidity risk and capital management, and implement 39 measures to stamp out risky investments and behaviour. It did not specify what those 39 requirements are.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
New Thai finance minister downplays row with central bank
China's CICC may cut investment banking headcount by at least 10% this year
Apac finance M&A to stay subdued after Q1 decline as uncertainties linger: S&P Global
MAS ‘following up’ with DBS on cause of May 2 glitch in digital banking services
UBS shares soar as profit smashes forecasts, share buyback plans affirmed
Australia’s central bank sees no need to hike rates but wary of price risks