CIRC gives help to insurance sector
Source: Shanghai Daily |
January 19, 2013, Saturday
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Print Edition
Print Edition
CHINESE insurers, insurance brokers and agencies will be allowed to sell securities funds to lift competitiveness of the industry, the Chinese Insurance Regulatory Commission said in a draft regulation yesterday.
Insurers can apply to conduct fund sales if they have a registered capital of more than 500 million yuan (US$80.4 million), stay profitable for three straight years and have a fund sales department with at least 30 employees certified to sell funds, the draft said. Insurance brokers and agencies should have no less than 50 million yuan in registered capital and 10 qualified employees.
Insurers can apply to conduct fund sales if they have a registered capital of more than 500 million yuan (US$80.4 million), stay profitable for three straight years and have a fund sales department with at least 30 employees certified to sell funds, the draft said. Insurance brokers and agencies should have no less than 50 million yuan in registered capital and 10 qualified employees.
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