Rule change to curb risks for insurers

Move aimed at increasing ownership transparency, resolving problems

China's insurance regulator on Wednesday significantly revamped the rules that regulate the shareholding of the country's insurers, aiming to increase their ownership transparency and resolve acute problems such as fake capital injection and illegal shareholding entrustment.

The regulator expanded the number of provisions of the regulation from 37 to 94 and laid out detailed rules to strengthen regulations on issues including the qualification for insurers' shareholders, ownership structure and fund authenticity.