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.