China's insurance regulator is tightening its control over short and mid-term life insurance products Emil Audero Jersey , in a bid to curb potential risks from aggressive insurers investing heavily in stocks and long-term assets using short-term funds.
The China Insurance Regulatory Commission (CIRC) is reducing the industry total premiums from such products to between 500 billion yuan (53.35 billion pounds) and 550 billion yuan a year, from 650 billion yuan in 2015, said Yuan Xucheng, director of its life insurance supervision department.
The lower level would account for less than 20 percent of total premiums for China's life insurance industry Douglas Costa Jersey , Yuan said, a reduction from 27 percent in 2015. At present, 57 life insurance companies selling such products, he added.
"Insurance company profits should come from active risk control Daniele Rugani Jersey , not aggressive investment," Yuan told a press conference.
The new rules, effective from Monday, follow a buying spree by Chinese insurers in equities and real estate after CIRC loosened restrictions on insurance investment in 2014. In recent months Dani Alves Jersey , Chinese insurers have been active in both overseas and domestic markets.
Yuan said that rapid growth of short- and mid-term insurance products has caused concern about risk created by a potential asset-liability mismatch and liquidity conditions.
Short and mid-term life insurance refers to products where more than 60 percent of total policies issued are expected to have less than 5 years effective duration, according to the new regulation.
Some insurance companies have been too aggressive selling these policies, Yuan said, with some firms seeing more than 90 percent of total premium coming from such products. He declined to name the insurers.
"Insurance companies shouldn't sell quasi-wealth management products purely for investment purposes Claudio Marchisio Jersey ," said Yuan. "That's not insurance," he added.
Under the new rules, China's life insurance companies need to immediately stop selling products in which more than 60 percent of policies are expected to have less than a year duration, and gradually cut back other short- and mid-term products.
Each firm will be assigned a ceiling Carlo Pinsoglio Jersey , depending on its capital. Those whose premiums from such products exceed the ceiling must increase capital within three months to meet the requirement, according to the new rules.
($1 = 6.4659 Chinese yuan)
Tips You Need To Know When Towing July 31, 2013 | Author: Chelsea Evans | Posted in Customer Service
You need to relocate to a new place and you have decided to just go ahead and carry these loads by yourself. You have already rented out a trailer. The next thing you need to do is get to perform the “towing in arlington quite successfully.
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Determine what your route is going to be. As much as possible, you want to find the right streets and roads that you would want to traverse while you’ll be lugging around such a load. It is always recommended that you do take the time to determine which ways you would prefer driving at so you would be able to reach your destination easily. Try to avoid areas with severe traffic, by the way.
Be sure to drive slow. The last thing you want is to go through the whole process with a considerable amount of load you are lugging around and then you just drive through as if you do not have none. Remember that the load you are trying to lug around is going to make things considerably heavier for you. So, it helps a lot that you take the necessary time to ensure that you drive more carefully this time.
Never let a person stay in the trailer. It is against the law for one to do so and you wouldn’t want to be flagged while you are in the middle of getting the trailer towed. Besides Alex Sandro Jersey , it is highly dangerous to let one stay in this extension of the vehicle while it is being towed. So, exercise due precaution and have the person stay with you in the driver’s seat instead.
Make sure that you will set aside enough amount for your gas. This is especially true in those instances when you expect to travel a considerable length before you can finally reach your destination. You want to ensure that you have enough fuel that should ensure that it is going to last until you will successfully reach your specific destination.
It is essential for you to invest on the right extension side mirrors as well. You must understand that there’s going to be a great difference between towing a load and driving a regular vehicle. There is going to be an extension on the length of the vehicle that you’re trying to drive around. Making sure that you have these extension mirrors will allow you better visual while you maneuver the vehicle around.
Determine what are the regulations that you are supposed to follow as well when getting the “towing in arlington done. It is recommended that you should take time to ensure that you will only be able to get the process done. So, making sure that you follow these regulations well is significantly necessary.
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A picker collects rose petals at dawn at the Rose Valley, near the village of Tarnichane (AFP PhotoDimitar Dilkoff)
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