Chinese regulator updates risk management rules for insurance groups

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China‘s banking and insurance regulator on Tuesday issued new rules governing the risk management of insurance groups, which will step up supervision, limit holdings of non-core units and regulate their investments in other companies.

The move is aimed at curbing risk in the sector and pushing insurance groups “to focus on the core business, strengthen their equity investment management … and to curb disorderly expansion of capital,” the China Banking and Insurance Regulatory Commission (CBIRC) said.

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