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China insurance regulator to deploy its new risk-oriented solvency system

( March 19, 2015, 08:54 GMT | Official Statement) -- MLex Summary: The China Insurance Regulatory Commission will hold a meeting on March 23 to discuss the deployment plans for a new risk-oriented solvency system named “China Risk Oriented Solvency System”, or “C-ROSS”, CIRC said in a statement Thursday. Containing 17 regulatory rules, C-ROSS was publicized in February 2015, and insurance companies are required to compile their solvency reports both under C-ROSS and the current solvency regulatory system during the interim period. Based on the outcome of the trail operation of C-ROSS, CIRC will then announce full implementation of the new solvency system.The regulator’s statement follows:...

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