Circular of the China Banking and Insurance Regulatory Commission on Issuing the Administrative Measures for the Entrusted Investment of Insurance Funds
Circular of the China Banking and Insurance Regulatory Commission on Issuing the Administrative Measures for the Entrusted Investment of Insurance Funds
Circular of the China Banking and Insurance Regulatory Commission on Issuing the Administrative Measures for the Entrusted Investment of Insurance Funds
Yin Bao Jian Gui [2022] No.9
May 9, 2022
All insurance group (holding) companies, insurance companies, and insurance asset management companies,
In order to further regulate the entrusted investment of insurance funds, the China Banking and Insurance Regulatory Commission has drafted the Administrative Measures for the Entrusted Investment of Insurance Funds, which are hereby issued for you to duly implement.
Administrative Measures for the Entrusted Investment of Insurance Funds
Chapter I General Provisions
Article 1 The Measures are enacted in accordance with the Insurance Law of the People's Republic of China, the Administrative Measures for the Use of Insurance Funds (Order of the China Insurance Regulatory Commission [2018] No.1) and other laws and regulations to regulate the entrusted investment of insurance funds, prevent investment management risks, effectively ensure asset safety, and protect the lawful rights and interests of the insured.
Article 2 Where an insurance group (holding) company or insurance company (collectively referred to as "insurance company") legally established in China entrusts the investment of its insurance funds to a qualified insurance asset management institution which will act as the trustee and conduct active investment management of such funds in China in the name of the client, the Measures shall apply.
Article 3 An insurance company shall establish an entrusted investment asset custody mechanism, and select a trustee in accordance with these Measures. The funds entrusted by the insurance company for investment and the assets generated from the use of such funds shall be independent of the trustee’s or the custodian’s own assets as well as other assets under their management. Assets and incomes derived by the trustee from investing, managing or disposing of the insurance funds shall be included in the entrusted investment assets. Relevant institutions are not allowed to impose any compulsory measures against insurance funds entrusted for investment.
Article 4 The China Banking and Insurance Regulatory Commission (the "CBIRC") is responsible for developing the regulatory regime for entrusted investment of insurance funds, and supervise and regulate entrusted investment on both the client and the trustee sides as well as asset custody in accordance with the law.
Chapter II Qualifications
Article 5 An insurance company to entrust investment shall meet the following conditions:
1. having sound corporate governance and a sound decision-making process and internal control mechanism;
2. having a sound asset management system and clear asset allocation plan;
3. having a good financial standing, a staff for entrusted investment with clearly defined management responsibilities, and an asset allocation capacity that meets the relevant requirements of the CBIRC;
4.
......
Yin Bao Jian Gui [2022] No.9
May 9, 2022
All insurance group (holding) companies, insurance companies, and insurance asset management companies,
In order to further regulate the entrusted investment of insurance funds, the China Banking and Insurance Regulatory Commission has drafted the Administrative Measures for the Entrusted Investment of Insurance Funds, which are hereby issued for you to duly implement.
Administrative Measures for the Entrusted Investment of Insurance Funds
Chapter I General Provisions
Article 1 The Measures are enacted in accordance with the Insurance Law of the People's Republic of China, the Administrative Measures for the Use of Insurance Funds (Order of the China Insurance Regulatory Commission [2018] No.1) and other laws and regulations to regulate the entrusted investment of insurance funds, prevent investment management risks, effectively ensure asset safety, and protect the lawful rights and interests of the insured.
Article 2 Where an insurance group (holding) company or insurance company (collectively referred to as "insurance company") legally established in China entrusts the investment of its insurance funds to a qualified insurance asset management institution which will act as the trustee and conduct active investment management of such funds in China in the name of the client, the Measures shall apply.
Article 3 An insurance company shall establish an entrusted investment asset custody mechanism, and select a trustee in accordance with these Measures. The funds entrusted by the insurance company for investment and the assets generated from the use of such funds shall be independent of the trustee’s or the custodian’s own assets as well as other assets under their management. Assets and incomes derived by the trustee from investing, managing or disposing of the insurance funds shall be included in the entrusted investment assets. Relevant institutions are not allowed to impose any compulsory measures against insurance funds entrusted for investment.
Article 4 The China Banking and Insurance Regulatory Commission (the "CBIRC") is responsible for developing the regulatory regime for entrusted investment of insurance funds, and supervise and regulate entrusted investment on both the client and the trustee sides as well as asset custody in accordance with the law.
Chapter II Qualifications
Article 5 An insurance company to entrust investment shall meet the following conditions:
1. having sound corporate governance and a sound decision-making process and internal control mechanism;
2. having a sound asset management system and clear asset allocation plan;
3. having a good financial standing, a staff for entrusted investment with clearly defined management responsibilities, and an asset allocation capacity that meets the relevant requirements of the CBIRC;
4.
......