China Insurance Regulatory Commission, Measures for the Administration of the Information Disclosure of Insurance Companies
中国保险监督管理委员会保险公司信息披露管理办法
July 14, 2010 | BY
clpstaff &clp articles &Insurance companies required to disclose seven types of information.
Promulgated: May 12 2010
Effective: June 12 2010
Interpreting authority: China Insurance Regulatory Commission
Applicability: These Measures shall not apply to insurance group companies, policy insurance companies and reinsurance companies, except in the case of insurance group companies that directly engage in insurance business.
These Measures shall apply mutatis mutandis to branches of foreign insurance companies that directly engage in insurance business (Article 30).
Main contents: An insurance company shall disclose the following information:
(1) its basic particulars;
(2) financial accounting information;
(3) information on its risk management position;
(4) information on the operations of its insurance products;
(5) information on its solvency;
(6) information on material affiliated transactions; and
(7) information on material events (Article 6).
An insurance company shall publish its annual information disclosure report on the company Internet website and in the newspapers designated by the CIRC by April 30 of each year (Article 19).
Related legislation: PRC Insurance Law (Amended), Feb 28 2009, CLP 2009 No.3 p.35
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