DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ms7vn7/governance_risk) has announced the addition of the "Governance, Risk and Compliance - The Chinese Insurance Industry" report to their offering.
'Governance, Risk and Compliance - The Chinese Insurance Industry' report is the result of extensive research into the insurance regulatory framework in China. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operations of insurance and reinsurance companies and intermediaries.
The report brings together research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, recent and upcoming changes in regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.
Summary
- An overview of the insurance regulatory framework in China.
- The latest key changes and changes expected in China's insurance regulatory framework.
- Key regulations and market practices related to different types of insurance product in the country.
- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in China.
- Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements, and investment regulations.
- Details of the tax and legal systems in the country.
Key Highlights
- The China Insurance Regulatory Commission is responsible for the regulation and supervision of the Chinese insurance industry.
- FDI is permitted up to 100% in non-life insurance and 50% in life insurance business.
- A new risk-based solvency standard, the China Risk Oriented Solvency System, introduced in May 2013, is expected to be fully implemented by 2017.
- Business tax is imposed at a rate of 5% on general insurance products; however, life insurance products are exempt from this tax.
- Non-admitted insurance is not permitted in the Chinese insurance industry.
Key Topics Covered:
1 Introduction
2 Governance, Risk and Compliance
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulations
2.3 Legislation and Market Practice by Type of Insurance
2.4 Compulsory Insurance
2.5 Supervision and Control
2.6 Non-Admitted Insurance Regulations
2.7 Company Registration and Operations
2.8 Taxation
2.9 Legal System
3 Appendix
Companies Mentioned
- People's Insurance Company of China
- People's Bank of China
- China Reinsurance Company
For more information visit http://www.researchandmarkets.com/research/ms7vn7/governance_risk
