The China Insurance Regulatory Commission has revealed that an individual private investor would be able to own a fifth of a single insurance company, as part of new proposals.
A report in China Daily said that CIRC-qualified private investors can invest in insurance companies by means of incorporation, equity transfers and purchases of new shares to diversify the source and equity of insurers.
It added that the CIRC made a specific ruling on how much a qualified private investor could hold for the first time in history, allowing individual private investors to hold stakes of 20 per cent or more in a single insurance company.
The CIRC plans to encourage private information technology companies to cooperate with insurance firms and the regulator itself in information technology development in the sector.
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© China Daily
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