TITLE

News - China: CIRC bars insurers from providing third party debt guarantees

PUB. DATE
March 2011
SOURCE
Asia Insurance Review;Mar2011, p36
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the China Insurance Regulatory Commission (CIRC) has asked insurance companies and their asset management firms not to offer debt guarantees for other firms. However, they can offer guarantees for lawsuit-related debt, export credit and marine insurance, and their own units. The move aims at reducing risks in its massive financial system.
ACCESSION #
67503525

 

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