New RBC regime sees China insurers overhaul products and ALM
China's new risk-based capital framework, C-Ross, is encouraging insurers to rethink their product and risk management strategies
Chinese insurers are getting ready for the implementation of China's new risk-based capital solvency framework by reviewing the products they offer and tightening up their risk management approach.
Insurers have been required to calculate their solvency positions under the China Risk Oriented Solvency System (C-Ross) since February 2015, but they are still regulated according to the old capital rules. Many insurance companies expect that a full switchover to C-Ross will be made in early 2016
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