China boardroom update - Issue 1, January 2011
The Chinese Insurance Regulatory Commission (CIRC) is increasing its focus on risk management and has recently released final Guidelines entitled 'Guidelines on Implementation of Enterprise Risk Management for Life and Health Insurance Companies' (人身保险公司全面风险管理实施指导意见), with enhanced reporting due as early as April 2011. This issue examines the key elements of the Guidelines, what these mean for insurers in China, and the actions companies should take now in order to plan for these important new developments.