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Wenzhou to test insurance reforms

(Global Times)

08:22, May 03, 2012

The China Insurance Regulatory Commission (CIRC) will appropriately adjust certain policies for insurance companies, after a preliminary round of testing in Wenzhou, Zhejiang Province, Xiang Junbo, chairman of the CIRC, said during a recent visit to the city.

The CIRC will tighten supervision over insurers' abilities to settle claims while loosening controls on their investment choices, following trials in Wenzhou, Xiang said.

The country will broaden the investment scope of insurance companies and gradually increase the types of unsecured corporate debts that insurance companies can purchase, Xiang also mentioned.

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