CIRC Proposes Capital Flexibility and Tighter Sanctions for Insurance Companies

The recently proposed draft amendments to the PRC Insurance Law propose changes which will provide more flexibility on how insurance companies manage their capital, overhaul existing provisions to keep pace with changes to the regulatory regime and propose tighter sanctions for non-compliance in certain areas. In particular, it is proposed that certain changes to indirect shareholdings of PRC insurance companies will require the CIRC’s approval. The consultation period ends on 14 November 2015.

For more information please contact  Fang Jian, Betty Yap, Annabella Fu van Bijnen, Eric Liu or your usual Linklaters contact.