CHINA LOOKS TO LIMIT FOREIGN INVESTMENT LEVELS

China’s insurance watchdog China Insurance Regulatory Commission (CIRC) has revised its rules on foreign investment, disallowing any further investment in domestic insurance companies by overseas insurers that already have stakes in Chinese insurers. The drafted amendments to the current rules were posted on the CIRC website. As well as this proposed limit on further investment, CIRC also repeated its current investment rules that state an overseas investor must have assets of at least $2 billion dollars and a credit rating of ‘A’ or above, and the investment by a single insurer cannot be greater than 20%.