News Regulations14 Jan 2021

China:Regulator cancels exams for directors and senior management of insurance companies

| 14 Jan 2021

The General Office of the CBIRC has issued a notice stipulating that with effect from 1 February 2021, qualifying examinations for directors, supervisors and senior management personnel of the insurance industry will be cancelled.

The "Notice on deepening deregulation and reform in the banking and insurance industry and enhancing the business environment" says that when considering candidates for these senior posts, the CBIRC and its local bureaux should scrutinise candidates' applications and interview them, etc, in vetting whether they have the basic requirements to hold the positions.

In the process of appointing directors and senior executives, several candidates had been barred from holding the positions because they failed the qualifying examinations even though they met all other selection criteria.


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