China: Technical standards of new insurance solvency system to be released by end of 2014

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The China Insurance Regulatory Commission will publish all the technical standards for China's second-generation solvency system, the China Risk Oriented Solvency System, by the end of 2014, Asia Insurance Review reports.

Initial tests and industry response indicate that costs related to executing the new system would be low and no extra pressure on the sector is expected, the regulator said.

CIRC is currently conducting quantitative tests across the insurance sector.

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