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ARTICLE · 19 DECEMBER 2012

Global Corporate Insurance & Regulatory Bulletin (November 2012)

Mayer Brown
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On 12 October 2012, China’s Insurance Regulatory Commission ("CIRC") issued the Implementing Rules for the Interim Measures.

GlobalInsurance
Martin Mankabady
Martin Mankabady
David Alberts
David Alberts
Lawrence Hamilton
Lawrence Hamilton
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Keywords: CIRC, FSA, EIOPA report, NAIC, life insurers

China – CIRC allows overseas investments by Chinese domestic insurers

On 12 October 2012, China's Insurance Regulatory Commission ("CIRC") issued the Implementing Rules for the Interim Measures, which has the effect of widening overseas investment options for Chinese domestic insurers. Whereas previously they were permitted to invest only in Hong Kong, now they are permitted to allocate assets in 45 new countries, including 25 developed and 20 emerging markets.

The scope of approved asset classes has also been widened. Chinese insurers may now invest in offshore products in the following categories: equities, bonds, currency products and fixed income products as well as real estate and offshore private equity funds.

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