China Insurance Regulatory Commission, Measures for the Administration of the Non-insurance Subsidiaries of Insurance Companies (Draft for Comments)

Issued: May 23 2014

Main contents: Insurance companies may directly or indirectly invest in and establish non-insurance subsidiaries, the specific types of which include: non-insurance financial subsidiaries that engage in financial business other than insurance business in accordance with the law; and shared service type subsidiaries that provide IT, call, audit, insurance policy management, property or other such services or management mainly to the insurance company or its subsidiaries. The Draft also requires that senior management personnel of an insurance enterprise may not concurrently serve as senior management personnel of non-insurance subsidiaries.

Issued: May 23 2014

Main contents: Insurance companies may directly or indirectly invest in and establish non-insurance subsidiaries, the specific types of which include: non-insurance financial subsidiaries that engage in financial business other than insurance business in accordance with the law; and shared service type subsidiaries that provide IT, call, audit, insurance policy management, property or other such services or management mainly to the insurance company or its subsidiaries. The Draft also requires that senior management personnel of an insurance enterprise may not concurrently serve as senior management personnel of non-insurance subsidiaries.