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Insurance building insurance funded using internal control standards to prevent risks investment risks

in recent years, with risk capital investment restrictions gradually open up, huge investment of insurance funds become hot again. But flying all the way back, the China insurance regulatory Commission intent to tighten the reins, risk capital investment risk within the control.

on December 15, Tencent financial learnt from the China insurance regulatory Commission, the China insurance regulatory Commission has recently issued guidelines on internal control of insurance funds (Guidance for the Internal Control of Insurance Funds, referred to as GICIF) and use of insurance funds and the internal control guidelines (1th-3rd) (hereinafter referred to as the guidelines). Insurance through the two files, from a regulatory perspective for the insurance industry to establish internal control standards, regulating internal control management of insurance funds. And in so doing promote improve the internal control of funds utilization of insurance institutions, and preventing risk management of insurance funds.

China insurance regulatory Commission believes that in recent years with the advancement of the market-oriented reform, the use of insurance funds market dynamism and innovation improved significantly. However, "growing out of some insurance companies formed in the use of funds accumulated for a long time in the field of internal control weaknesses and shortcomings, especially in the internal control system is not perfect, operation system, internal control means lagging implementation is difficult to put in place, shareholders or the Chairman may be superior to the control system, such as, difficult to adapt to the risks associated with market-oriented reforms." The guidelines established by the China insurance regulatory Commission to take total, frame structure, represented as "General directions + application guidelines".

main contents of the guide include: General guidelines defined the use of insurance funds internal control objectives, principles and basic elements, and investment within the internal control environment, risk assessment, control activities, information and communication and internal oversight elements, clear refinement of critical control points and control activities. Second, application guidelines will target specific areas of investment of insurance funds construction of internal control, including segregation of duties and authorization, investment research and decision-making, investment Executive, investment management and other key aspects of internal control standards and requirements.

in addition, on the basis of the guidelines, the China insurance regulatory Commission will further strengthen supervision of insurance application on internal control system. Insurance requirements, insurance agencies need to engage an independent third party audit organizations to carry out special audit for internal control management of insurance funds and institutional investment management and audit results as insurance, investment innovation business prudential requirements and evaluation of internal control and compliance score of insurance funds.