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China: Regulator to issue rules for setting up captive insurers

December 12, 2013 - 6:00am

The China Insurance Regulatory Commission is soon expected to issue rules governing the establishment of captive insurers in China, reports the 21st Century Economic Report.

The holding company of the captive insurer must have more than 100 billion Chinese yuan ($16.5 billion) in total assets, Asia Insurance Review reported. The country's first onshore captive insurer was set up by China National Petroleum Corp. and its subsidiary Petro China Co. Ltd.

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