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March 01, 2018

CIRC released as set of regulatory rules on the management of insurance assets and liabilities, to prevent the mismatch risk of assets and liabilities in the insurance industry and enhance the asset and liability management ability of the insurance companies. The regulatory rules are subject to a trial period.

These regulatory rules include ability assessment rules, quantitative assessment rules, and management reporting rules. During the trial period, all insurance companies should perform a quantitative assessment of asset and liability management and self-assessment of capability in accordance with the regulatory requirements, and prepare and submit quarterly and annual reports on asset and liability management. CIRC will classify insurance companies into the four categories of A, B, C, and D, based on the assessment, and will apply the appropriate regulatory policies. In the next step, CIRC will set up a module on asset and liability management and supervision system to guide the company to accurately fill in the indicator information; conduct research and analysis on the quarterly reports during the trial period; and track and monitor the related risks.

 

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Keywords: Asia Pacific, China, Insurance, Asset and Liabilities Management, Regulatory Rules, CIRC

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