CIRC sets investment ceilings for insurance firms
The China Insurance Regulatory Commission (CIRC) has published a list of insurance companies that will be permitted to invest in securities funds and the amount of money they are limited to risk in these investments.
Qualified firms are limited in the amount they may invest to a maximum of 15 percent of their previous year's total assets.
Companies approved at the maximum rate of 15 percent are Ping An Insurance Co., China Pacific Insurance Co., Tai Kang Life Insurance Co., Sinosafe Insurance Co., AXA-Minmetals Assurance Co., and American International Assurance (AIA) Shanghai Branch.
New China Life Insurance Co. and Huatai Insurance Co. have a maximum investment limit of 12 percent of their previous year's assets.
Companies that have 10 percent investment limits are China Life Insurance Co., China Reinsurance Co., Tian'an Insurance Co., Dazhong Insurance Co., Yong An Property Insurance Co., Zhong Hong Life Insurance Co., AIA Guangzhou Branch, Pacific Aetna Life Insurance Co., Allianz Dazhong Life, CITIC Prudential Life Insurance Co., and China Life Colonial Life Insurance Co.
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