China Reinsurance (Group) Co, the nation's largest reinsurer, said the industry regulator has lifted business curbs on its property-insurance unit after solvency margins improved.
The China Insurance Regulatory Commission on Friday scrapped the suspension it had placed on non-auto insurance sales at five branches of China Continent Property and Casualty Insurance Co, the reinsurer said in a statement. The suspension was put in place on June 10. China Continent raised premium income more than six times in three years to more than 10 billion yuan (US$1.46 billion) last year, the statement said.
(Shanghai Daily?November 24, 2008)
