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CIRC sets investment ceilings for insurance
firms
The China Insurance Regulatory Commission (CIRC) has published
a list of insurance companies that will be permitted to invest
in securities funds and the amount of money they are limited to
risk in these investments.
Qualified firms are limited in the amount they may invest to
a maximum of 15 percent of their previous year's total assets.
Companies approved at the maximum rate of 15 percent are Ping
An Insurance Co., China Pacific Insurance Co., Tai Kang Life Insurance
Co., Sinosafe Insurance Co., AXA-Minmetals Assurance Co., and
American International Assurance (AIA) Shanghai Branch.
New China Life Insurance Co. and Huatai Insurance Co. have a
maximum investment limit of 12 percent of their previous year's
assets.
Companies that have 10 percent investment limits are China Life
Insurance Co., China Reinsurance Co., Tian'an Insurance Co., Dazhong
Insurance Co., Yong An Property Insurance Co., Zhong Hong Life
Insurance Co., AIA Guangzhou Branch, Pacific Aetna Life Insurance
Co., Allianz Dazhong Life, CITIC Prudential Life Insurance Co.,
and China Life Colonial Life Insurance Co.
The People's Insurance Co., American International Underwriters
Ltd. (AIU) Insurance Co. Shanghai Branch, and AIU Insurance Co.
Guangzhou Branch have been approved to invest 5 percent of their
previous year's assets.
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