CHINA’S insurance regulator said yesterday that risks are rising for insurers’ credit assets, according to a post on the official website of the regulator.

    The China Insurance Regulatory Commission (CIRC) has adopted a slew of measures this year to reduce risks from insurers, from reining in aggressive acquisitions to investing in long-term assets using short-term funds.

    Chen Wenhui, the vice chairman of the CIRC, said 80 percent of insurance assets were invested in credit-related assets and credit risks were rising, even as insurance firms chase higher yields.

    There were still gaps between the use of insurance funds in China and more mature markets, such as deficiencies in corporate governance and Chinese insurers’ involvement in insider trading, he said.

    The international political and economic situation is complex, adding to the risks faced by insurance funds, he said.(SD-Agencies)