China Revises Job Qualifications for Insurance Company Executives

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Jan. 28 – China has revised job qualifications for directors, supervisors and senior executives to be employed in insurance companies effective April 1.

The new regulations consolidates regulatory compliance requirements for executive jobs, requiring more years of work experience in the fields of economics or finance.

General managers in insurance firms need to possess previous working experience as a general manager in the insurance industry, specifically 8 to 10 years experience in economics or finance from the previous 5 to 8 year requirement. On the other hand, the secretary of the board position need to have at least graduated from a bachelor degree or above, as well as five years of relevant work experience.

In addition, the new regulations also highlighted basis for refusal of approval of job qualifications.

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