CBIRC continues to guide insurance industry to increase product innovation

The relevant person in charge of the China Banking and Insurance Regulatory Commission (CBIRC) said that the insurance industry has exposed some risks.

The relevant person in charge of the China Banking and Insurance Regulatory Commission (CBIRC) said that the insurance industry has exposed some risks.

In the next step, CBIRC will further encourage and guide the insurance industry to increase product innovation, continue to promote the supply-side structural reform of the insurance industry, and further enrich the supply of insurance products.

At the same time, in the face of a decline in premium growth and media fears that some market chaos may rise, it expressed its determination to continue to tighten supervision to curb market players’ impulse violations, and to hold and consolidate the results of the chaos in the financial sector in recent years.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/19/cbirc-continues-to-guide-insurance-industry-to-increase-product-innovation/.

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