Member Article

The China Insurance Regulatory Commission (CIRC) recently issued draft rules namely, Regulatory Measures on Offshore Investment of Insurance Assets, governing China's insurance companies' investment in their assets offshore and the appointment of foreign investment managers. These rules seek to replace the provisional rules issued in August 2004 and give a wider investment scope of insurance companies' assets, as well as establish an independent registration regime for foreign managers seeking to manage such assets. The new rules are expected to become effective later in the year.