Insurance Regulator Determined to Transform 'Barbarians' into 'Friendly Investors'

(Beijing) — China Insurance Regulatory Commission (CIRC) Chairman Xiang Junbo said Tuesday said that the regulatory body will more closely supervise and control how insurance companies invest their premiums, vowing to make them "friendly investors" rather than "barbarians" that disrupt market order.

Analysts say that, to some extent, China's insurance regulator is playing catch-up, trying to rein in companies that had grown unchecked by selling dubious policies and making risky investment that put ordinary people's savings at risk.