Captive News

Global captive market updates, regulatory news and industry insights

China announce the merge of the banking and insurance regulatory commission

Chinese State Councilor Wang Yong delivers an institutional restructuring plan of the State Council at the fourth plenary meeting of the first session of the 13th National People's Congress (NPC) at the Great Hall of the People in Beijing, March 13, 2018.

2018-03-13

Author：Editorial Team
Zhongyi P&C Insurance: The Awkward Rivalry Between Commercial Insurance and Captive Insurance Under the Same Parent

Zhongyi Property & Casualty Insurance Co., Ltd. recently disclosed its Q4 2017 solvency report. From Q1 to Q4 2017, Zhongyi P&C generated RMB 186 million of insurance business income with China National Petroleum Corporation (CNPC) and its subsidiaries, accounting for 31% of the company's insurance business income for the year.

2018-02-16

Author：Editorial Team
Dedicated Insurance for New Energy Vehicles 'Stirs'

At the New Energy Vehicle Insurance Development Exchange Meeting held yesterday, He Hao, deputy director of the Property Insurance Supervision Department of the China Insurance Regulatory Commission, said that with the rapid development of the new energy vehicle industry, insurance business designed for traditional fuel vehicles can increasingly no longer meet the differentiated needs of new energy vehicles, and enterprises and consumers are paying growing attention to premiums and loss assessment and claims settlement for new energy vehicles.

2017-12-06

Author：
CIRC Issues Chief Actuary System for Property Insurance and Reinsurance Companies

To further improve the actuarial regulatory system for non-life insurance, give full play to the role of chief actuaries in the operation and management of property insurance companies and reinsurance companies, and promote their healthy development, the China Insurance Regulatory Commission, in accordance with the relevant provisions of the Measures for the Administration of Chief Actuaries of Insurance Companies, has issued a notice on matters concerning the implementation of the chief actuary system by property insurance companies and reinsurance companies.

2017-11-29

Author：Editorial Team
China and Luxembourg Sign Bilateral Social Security Agreement; Seconded Employees Exempt from Pension Contributions

The Social Security Agreement between the Government of the People's Republic of China and the Government of the Grand Duchy of Luxembourg and its administrative agreement were signed in Beijing on the 27th. Under the agreement, employees of Chinese enterprises seconded to work in Luxembourg will be exempt from pension insurance contributions in Luxembourg. Employees seconded by Luxembourg to China will likewise be exempt from pension insurance contributions in China.

2017-11-27

Author：Editorial Team
13 Insurance Companies Approved to Open This Year, with Combined Registered Capital of RMB 20 Billion

As of November 15, the CIRC has approved the opening of 13 insurance companies this year. A review of the CIRC's official disclosure documents by Jiemian News found that the CIRC has approved 13 insurance companies to open this year. Compared with the 8 insurers that opened in all of last year, the pace of insurer openings this year has clearly quickened.

2017-11-22

Author：Editorial Team
China Captive Network Promotes the Establishment of an Asia-Pacific Captive Cooperation Mechanism

At the "2017 Beijing-Tianjin-Hebei Insurance (Tianjin Airport) International Forum," the Airport Economic Area Administrative Committee, China Captive Network, China Taiping Insurance (HK) Co., Ltd. and Aon-COFCO Insurance Brokers Co., Ltd. jointly signed a "Memorandum of Cooperation on Promoting Asia-Pacific Captive Cooperation and Development." This cooperation has attracted the attention of Asia-Pacific financial and insurance centers such as Hong Kong, Malaysia and Singapore, which expressed a strong willingness to join the cooperation mechanism.

2017-11-09

Author：Editorial Team
2017 Beijing-Tianjin-Hebei Insurance (Tianjin Airport) International Forum Held in Tianjin

On November 5, the 2017 Beijing-Tianjin-Hebei Insurance (Tianjin Airport) International Forum—hosted by the Tianjin Airport Economic Area Administrative Committee and co-organized by the School of Finance of Nankai University, China Captive Network and China Taiping Insurance (HK) Co., Ltd.—was held in Tianjin.

2017-11-08

Author：
Hong Kong Insurance Authority Launches "Regulatory Sandbox" to Support Insurtech Development

The buzz generated by ZhongAn Online, the first internet insurance company, has not yet cooled, and Hong Kong's insurance industry has delivered more heavyweight news. On September 29, the Hong Kong Insurance Authority announced the launch of two pilot initiatives—the Insurtech Sandbox and Fast Track—intended to fully promote the development and application of insurance technology.

2017-09-30

Author：Editorial Team
Pudong Takes Initial Shape as an Insurance Industry Ecosystem

The Pudong Financial Services Bureau recently held a briefing session on the "13th Five-Year Plan" support policies for insurance institutions. Reporters learned at the meeting that Pudong has now initially formed an insurance industry development ecosystem, with insurance functional platforms, life insurance, property insurance, insurance asset management, insurance intermediaries and other business formats advancing side by side in the new area.

2017-08-12

Author：Editorial Team

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