China insurance watchdog to concentrate on solvency
The China Insurance Regulatory Commission (CIRC) says this year it will focus more on monitoring the solvency of Chinese insurance companies and work towards establishing a framework for insurers to diversify their investments into equities and infrastructure projects.
CIRC chairman Wu Dingfu told a recent industry conference that insolvent insurers would be required to increase their capital and restrict salary payment to management and dividends to shareholders, among other remedial measures.
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