Banking Insurance Regulatory Commission: Improving the standard of payment capacity to regulate the standards and enhance the service capacity of the insurance industry

The reporter learned from the CBRC that in order to better guide the insurance industry to serve the real economy, the China Banking Regulatory Commission will continue to improve the standards of payment capacity and continue to enhance the ability of insurance industry to serve the overall economic and social situation on the basis of scientific and effective risk prevention and control risks.

Picture source: Xinhua News Agency

According to reports, in December 2021, the CBRC issued the "Regulations on the Competence of Insurance Companies (II)". Since the implementation of the "Insurance Corporate Capital Capacity Supervision Rules (II)", a number of support policies have been given to green bonds, scientific and technological innovation, export credit insurance, agricultural insurance, and pension insurance, and support the insurance industry's participation in the capital market reform.

The person in charge of the relevant departments of the CBRC said that the CBRC will continue to support the development of commercial pension business. Based on the characteristics of commercial pension business and development reality, research and formulation of preferential solvency policies, reduce the company's capital occupation, support the insurance industry to carry out commercial pension business, and promote the healthy development of the third pillar pension insurance.

The person in charge said that the CBRC will also have investment assets formed by insurance funding support and implementation of national strategic decision -making deployment, study its definition standards and preferential policies, reduce its minimum capital requirements, and enhance the overall situation of insurance industry services.

Source: Xinhua News Agency

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