CIRC LIMITS FUNDRAISING BY DOMESTIC INSURERS

The China Insurance Regulatory Commission (CIRC) has issued draft regulations that would limit domestic insurers that want to raise extra funds via the stock market, claims a report in state-supported publication Shanghai Securities News . The CIRC has proposed that any insurer wishing to launch an initial public offering (IPO) would first have to seek regulatory approval. This would be dependant on the insurer demonstrating its ability to pay claims and having had no regulatory breaches for at least three years.