2009-04-01
By Editor, CIR
China's insurance regulator says the companies that it oversees must tighten their risk management procedures and be alert to potential loopholes.
Wu Dingfu, chairman of China Insurance Regulatory Commission, said insurance companies need to enhance their ability to adapt to changes in the external environment and gradually improve profitability.
China's insurance industry is financially stable, even after being impacted by the global financial crisis, Wu said in a statement posted on the watchdog's website.
Other stories you may find of interest:
NORIMA joins FERMA
Norwegian Risk Management Association, NORIMA, joins the European Risk Mangagement Association, FERMA
Caddick joins risk and BCM team at PwC
Martin Caddick has left Marsh to head up business continuity management at PricewaterhouseCoopers
ABI issues its flood protection blueprint
It says the Environment Agency should have a statutory duty to reduce flood risk
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