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CHINA EASES LIMITS ON BRANCHES OF FOREIGN REINSURERS.
BEIJING, Dec 1 Asia Pulse - China's first general regulation governing the reinsurance market is due to take effect on December 1 and will lessen the requirements on solvency capacity of branches of foreign reinsurance companies set up in the country.
In order to encourage foreign reinsurance companies to set up subsidiaries in China, Article 25 of the Administrative Regulations on Reinsurance Business stipulates that the solvency of branches of foreign reinsurance companies will be certified according to that of their parent companies.
Such branches are required only to submit related reports to the China Insurance Regulatory ...
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Source: HighBeam Research, CHINA EASES LIMITS ON BRANCHES OF FOREIGN REINSURERS.