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More insurance licences expected.

Asia Africa Intelligence Wire

| April 30, 2004 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From The Standard)

Byline: Olivia Chung

The mainland is expected to ease restrictions and issue more insurance licences this year after an eight-year suspension.

An official with the development and reform department of the China Insurance Regulatory Commission (CIRC) said the watchdog is going to allow more domestic companies to operate in the insurance industry.

The last time the CIRC issued licences to domestic players was in 1996 when New China Life Insurance, Taikang Insurance, Tian'an Insurance and Sinosafe Insurance were awarded licences.

Since then, no new domestic firm has been given an insurance licence by the CIRC. …

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