Regulator to impose tighter controls of China’s major insurers
The China Insurance Regulatory Commission has asked 16 major insurers to provide data as part of a plan to identify domestic systematically important insurers (D-SII). Insurers selected will face additional regulatory burdens including tighter capital scrutiny, enhanced supervision and recovery and resolution planning requirements similar to the program initiated by the Financial Stability Board, the international agency endorsed by G20 member nations during the post-2008 crisis.

Shenzhen-based Ping An has been on the list of globally systematically important insurers ever since the for three straight years since the FSB started compiling the list in 2013. Photo: AFP