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ARTICLE · 02 NOVEMBER 2012

New CIRC Rules Aimed At Expanding China's Overseas Insurance Investment

Mayer Brown
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China Insurance Regulatory Commission (CIRC) issued the Interim Measures on the Administration of Overseas Investments of Insurance Funds (the Interim Measures) in 2007 to establish a basic legal framework for China's domestic insurance sector to make offshore investments

ChinaInsurance
Yong Ren
Yong Ren
Joyce Sun
Joyce Sun
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Keywords: CIRC rules, China, overseas insurance, insurance funds

Overview

China Insurance Regulatory Commission (CIRC) issued the Interim Measures on the Administration of Overseas Investments of Insurance Funds (the Interim Measures) in 2007 to establish a basic legal framework for China's domestic insurance sector to make offshore investments.

On 12 October 2012, CIRC released the Implementing Rules for the Interim Measures (the Implementing Rules). The 35-article Implementing Rules expand the asset categories and jurisdictions in which Chinese insurers can invest offshore, and provide detailed requirements for such areas as investor qualifications, risk control, and the supervision and administration of the offshore investments of insurance funds.

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