Chinesepod - Listed insurers to disclose data regularly

?  ?

BIZCHINA / Center

Listed insurers to disclose data regularly

By Tu Lei (chinadaily.com.cn)
Updated: 2007-09-04 15:59

Listed insurance companies are to disclose their comprehensive loss
ratios and surrender rates regularly, according to a rule newly released
by the China Securities Regulatory Commission, said today's Oriental
Morning Post.

The rule requires insurance companies to release accounting figures and
financial indices in their regular reports, including earned premium,
investment assets, outstanding loss reserve (excluding life insurance),
unearned premium reserve (excluding life insurance), compensation and
payouts, growth rate of earned premium, return on investment, combined
ratio (excluding life insurance), comprehensive loss ratio (excluding
life insurance) and surrender rate (life insurance).

Insurance companies must also disclose the structure of premium
receivable at the end of the reporting period by insurance type and term
of the account.

Companies should also give explanations when the shareholders, who hold
more than 5 percent of the insurance companies' stocks, owe the premium
receivable.

Insurance companies should reveal changes in charges and commissions
payable, insurance policy mortgage loans and debt-offsetting assets, and
give explanations for the changes as well.

Meanwhile, the rule requires insurance companies to disclose the
information when changing general actuaries, experiencing financial
difficulties, and setting up, abolishing or merging branches as well as
changing insurance types and premium rates.

(For more biz stories, please visit Industry Updates)

Related Stories ?

� Listed companies must disclose securities investments
===========================================================================
� SME board companies can disclose information at noon
===========================================================================
� Insurance to cover all urban residents by 2010
===========================================================================
� Ping An Insurance profit up 140% in 1st half
===========================================================================

Learn Chinese, Chinesepod