Regulator tackling weak corporate governance in Chinese insurers

Posted On: Jul. 5, 2019 5:53 AM CST

An official said that China's insurance regulator has observed problems such as weak corporate governance, illegal use of funds, improper product innovations, misleading sales and false financial data among insurers in recent years, The Standard reported. Liang Tao, vice chairman of China Banking and Insurance Regulatory Commission, said that the regulator has taken action to tackle issues related to improving corporate governance, solvency, capital utilization and agricultural coverage.