Insurance Law

Housing and travel allowances of foreign expatriates of insurance companies may be excluded from their bonus limits.

For the first time insurance proceeds are allowed to be invested in wealth management products of commercial banks, credit asset-backed securities of banking financial institutions and pooled fund trust plans of trust companies.

Insurance asset management companies may be entrusted to manage the funds of pension fund, enterprise annuity and housing fund.

Investment-linked insurance proceeds not restricted by the 25% threshold.

Critical illness insurance business allowed only modest profits.

Shareholders may not sell privately offered bonds to insurance companies that they control.

Guidelines require deferred payment of bonuses of senior management personnel of insurance companies.

A single private insurance shareholder may hold a stake of more than 20%.

Foreign insurers can now enter the nation's compulsory transport accident insurance market