China CIRC says insurers must set up risk assessment system for bond investments |
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Published
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Wed, 07 Feb 2007 12:19
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BEIJING (XFN-ASIA) - Insurers should set up a credit risk assessment system for bond investments, the China Insurance Regulatory Commission (CIRC) said.It said that credit defaults are the 'most grave risks' faced by insurers, and that a risk assessment system can help the firms ensure their asset security and improve their competitiveness.A credit rating system should be two-tiered, with both the bond issuer and the bond itself being assessed, it said as it outlined a new guideline.Insurers must build up rating models tailored to their own characteristics, it added.jianbo.wu@xfn.com
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China insurance regulator to push restructuring, investment in banks 