Insight and Intelligence on the London & International Insurance Markets

22 January 2018

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CIRC sets compliance standards

Catrin Shi 5 January 2017

The China Insurance Regulatory Commission (CIRC) has introduced a set of new compliance regulations as part of its push to improve governance in the industry.

The rules, which take effect from 1 July, require insurance companies to introduce a three-tiered compliance structure aimed at improving compliance governance, implementation and oversight.

In a statement, the CIRC said the holding company of an insurance group must establish a compliance management framework to oversee the entire group. This must include a compliance department...

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