China Insurance Regulatory Commission, Guidelines for the Administration of Development Plans of Insurance Companies

中国保险监督管理委员会保险公司发展规划管理指引

May 11, 2013 | BY

CLP Temp

Insurance companies required to formulate development plans.

Issued: March 12 2013

Effective: as of date of issuance

Interpreting authority: China Insurance Regulatory Commission (CIRC)

 

Applicability: “Development plans” refers to the development targets, business strategies and safeguard measures formulated by insurance companies based on actual circumstances and future trends, and are the basic outline for business operations and development of the company during the planning period. Insurance companies shall, according to their own circumstances, objectively determine the development planning period, which is three to five years in general (Article 2).

 

The Guidelines apply to insurance companies and insurance group (holding) companies. Matters relating to insurance asset management companies and other insurance institutions approved by the CIRC shall, mutatis mutandis, be handled in accordance with these Guidelines (Article 3).

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