China insurance regulator issues new ownership rules

The China Insurance Regulatory Commission has issued new ownership rules, under which an insurer should have a clear and reasonable shareholding structure and must reveal the actual controlling entity to the regulator, Reuters reported. Additionally, a single shareholder cannot control more than one third of an insurer's registered capital, while investors cannot entrust others to hold stakes in an insurer. The rules, effective on April 10, cover requirements for the qualifications and conduct of shareholders and the management of stock rights.

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