China Insurance Regulatory Commission, Reply on the Issue of Delimiting the Scope of Affiliated Transactions of Foreign-invested Insurance Companies

中国保险监督管理委员会关于外资保险公司关联交易范围界定问题的复函

November 10, 2008 | BY

clpstaff &clp articles &

Affiliated transactions of insurance FIEs defined.

Clp Reference: 3910/08.09.25 Promulgated: 2008-09-25

Issued: September 25 2008

Main Contents: Article 22 of the PRC Regulations for the Administration of Foreign-invested Insurance Companies is the embodiment of the principle of prudential regulation. Its objective is the avoidance of problems such as the potential transfer of benefits, etc. that may occur in the course of the affiliated transactions of foreign-invested insurance companies, and thereby ensure the sound operation of such companies. The term “other transactions” in the first paragraph of the said Article includes but is not limited to other transactions relating to the sale and purchase of assets.

Related Legislation: PRC Regulations for the Administration of Foreign-invested Insurance Companies, Dec 12 2001, CLP 2002 No.1 p.39

clp reference:3910/08.09.25promulgated:2008-09-25

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