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China Insurance Regulatory Commission
2.191 documents for China Insurance Regulatory Commission
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Car consumption often is used as a barometer for economic well-being in China, where government entities have recently resorted to automobile loan insurance as part of a wider economic stimulus measure aimed at boosting car sales. Motor insurers suffered underwriting losses of 3.74 billion Yuan since the introduction of compulsory motor insurance in July 2006, according to the China Insurance Regulatory Commission. Of the 26 insurers underwriting 156 million vehicles for compulsory third-party liability, which accounts for about 23% of total nonlife premiums, only 10 were profitable. Profitability is a key challenge of motor insurance in China. Market competition is very keen in China for motor insurance and the industrywide underwriting result is not promising, said Jenny Lai, consulta...
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This article describes the particular investment and legal constraints on the life insurance investment portfolio in China (the "Portfolio") and investigates the specialist problem. The "specialist problem" is here defined as an agency problem as in information economics. In September 2004, the China Insurance Regulatory Commission ("CIRC") announced that three of the four largest life insurance companies in China could not meet the mandatory capital adequacy requirement. The author found that although it is harder to manage the Portfolio because of the peculiar constraints, the main characteristic of the poor performance of the Portfolio - failing to meet the capital requirement - is due to the specialist problem, which is mainly due to the controlled economic system. In conclusion, th...
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China spent a record-breaking $43 billion preparing for the 29th Olympic Summer Games in Beijing on August 8, with the country's leaders seeking to positively display the country's growing economic and political power. Four Chinese banks applied for regulatory approval to invest in domestic insurance companies, the China Insurance Regulatory Commission says. China has surpassed the US to become home to the world's largest Internet population. The 253 million users account for less than one-fifth of China's total population, however, leaving significant potential for further growth.
