The China Insurance Regulatory Commission (CIRC) is working on plans to widen insurers’ fund investment channels and moderately lift ceiling for insurance companies investing in stocks and funds, said Chen Wenhui, vice president of CIRC on Monday.
Chen made the remarks during 2011 Golden Kirin Forum organized by SINA (SINA.NY).
According to current regulations, the proportion of investment in stocks and funds by Chinese insurance companies should be less than 25 percent.
“CIRC intends to authorize non-insurance organizations to manage insurance funds, which helps insurance companies to preserve and raise their asset values,” Chen said.
Investment funds owned by insurance industry has exceeded 5 trillion yuan (US$786 billion) so far.
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