Ergo-Fesco Insurance Brokerage and BMW (China) granted approval to set up operations, as the NAFR looks to increase foreign investment in the domestic (re)insurance industry.
The National Financial Regulatory Administration has introduced a comprehensive, six chapter, fifty article framework, which aims to enhance consumer protection.
China's National Administration of Financial Regulation (NAFR) reduces risk weightings for insurance companies' holdings in a bid to stimulate the nation's underperforming stock market.
Chinese insurers have spent over US$10bn building retirement communities, but new draft rules could see some excluded from the insurance-plus-service sector.
