China's central bank's top researcher has called for the People's Bank of China (PBOC) to provide greater supervision over the financial system, without advocating for major changes in the country's regulatory architecture, reports Reuters.
Nineteen insurers have been found guilty of product irregularities, in the latest measure by the authorities to reduce risk in China's financial system and tighten the regulatory environment, reported Reuters citing the CIRC.
All eyes are on Myanmar for 2018 which will be the year to usher in a new wave of transformation for the insurance industry in the country. Insurance reform is now said to be a priority and the government is expected to issue more insurance licences.
Insurance companies are required to cap their outstanding overseas financing that is backed by domestic guarantees at 20% of net assets as of the end of the previous quarter, according to a joint notice issued yesterday by the CIRC and the...
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