ANALYSIS - CHINESE INSURERS LAUNCHING ASSET MANAGEMENT COMPANIES.

Publication: AsiaPulse News

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COPYRIGHT 2003 Asia Pulse Pty Ltd

BEIJING, June 27 Asia Pulse - With the approval of the China Insurance Regulatory Commission, the People's Insurance Company of China (PICC) has set up an insurance asset management company. Other companies such as Taikang and Huatai are doing the same.

The asset management company of the PICC, as well as similar companies being set up by other Chinese insurers, used to be an internal department without the status as a legal person.

But the new insurance asset management company is a subsidiary of the top insurance company in China.

Although it is a subordinate organization, it enjoys the status as a legal person and has the contract relations with its parent company.

According to common international practice, an insurance asset management company is a...

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