China's National Financial Regulatory Administration has proposed revisions to the Insurance Law that would close regulatory gaps and strengthen institutional, conduct, functional, look-through and continuous supervision. The draft would extend oversight to insurers’ shareholders and actual controllers, reinforce prudential requirements and improve the framework for resolving risks and facilitating market exits. The prudential changes cover corporate governance, risk management, internal controls, solvency, asset-liability management and the use of funds. The draft would also strengthen insurance consumer protection and contract rules, clarify prohibited conduct, broaden the scope of legal liability and increase fines for violations.
2026-09-04China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration launches consultation on Insurance Law revisions to strengthen oversight and penalties
China's National Financial Regulatory Administration has proposed Insurance Law revisions that would expand look-through oversight and strengthen prudential supervision, risk resolution and market exit rules. The draft would also enhance consumer protection, clarify prohibited conduct and raise penalties for violations.