Insurers may be allowed to invest more abroad
22 January 2008
Domestic insurers may be allowed to invest a larger portion of their assets overseas this year, 21st Century Business Herald (in Chinese) reported. The newspaper cited an unnamed source in the China Insurance Regulatory Commission. The information was disclosed during the Insurance Assets Management Joint Meeting in Guangxi province. According to the source, Chinese insurers will be allowed to directly invest in overseas markets more easily in order to reduce exposure to the volatile domestic markets and increase returns. Ping An Insurance, a leading domestic insurer, is currently allowed to invest 15% of its total assets overseas, compared to the 5% limit placed on other insurers.
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