October 25, 2018

CBIRC issued a notice that sets out requirements to be met by the insurance asset management companies when they establish a special product. The notice is addressed to insurance companies, holding companies of insurance companies, and insurance asset management companies (AMCs).

The notice covers the following key requirements:

  • Sets out conditions for the product manager, with the product manager being required to have the qualification for issuing portfolio insurance asset management products
  • Clarifies the investment scope of special products, mainly including listed company stocks, publicly issued bonds of listed companies and their shareholders, and non-publicly issued exchangeable bonds
  • Focuses on the exit arrangements for special products by supporting the role of insurance institutions in the role of institutional investors, maintaining the long-term stable operation of listed companies, and clarifying the exit arrangements and procedures of products to ensure a smooth exit
  • Requirements to develop special product risk management and control measures, including the specific requirements put forward from the aspects of account management, closure period, duration, investment concentration, pre-registration, information disclosure, and related transactions
  • Clarifies that the product is not included in the investment ratio of the equity assets of the insurance company

 

Related Links (in Chinese)

Keywords: Asia Pacific, China, Insurance, Special Products, Insurance Asset Management Companies, CBIRC

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