BEIJING Dec 29 China's insurance regulator said
on Thursday it has tightened regulations on insurance companies'
ownership structure to prevent risk.
The upper limit of a single shareholder's stake in an
insurance company will be lowered to one-third, from 51 percent
presently, to prevent any improper transfer of benefits, the
China Insurance Regulatory Commission (CIRC) said in a draft
document released on its website.
CIRC also said its draft rules will forbid insurers to use
wealth management funds to invest in themselves.
(Reporting By Shu Zhang and Beijing Monitoring Desk; Editing by