On April 8, China Re Life held a training session on the trial operation of the China Risk Oriented Solvency System (C-ROSS) to deepen relevant personnel’s understanding of the regulatory rules of C-ROSS and requirements on its implementation, and to ensure the timely delivery of solvency reports and relevant information. Cheng Xiaoping and Tian Meipan, Deputy General Managers of China Re Life and deputy heads of the company’s C-ROSS Leadership Group were present at the session and made important speeches. Participants of the training included all members of the company’s C-ROSS Working Group as well as the staff members of its relevant departments and branches.
The participants were briefed on the company’s C-ROSS Trial Operation Plan and CIRC’s requirements concerning the transition period, and given a detailed introduction to the development of C-ROSS and reporting requirements, insurance risk assessment under C-ROSS and its impacts on business development, as well as risk management and classification-based regulation under C-ROSS. They also discussed how to better fulfill related requirements.
It was stressed at the session that everyone at China Re Life should fully recognize the significance of C-ROSS’s implementation, study its impacts on business development, and take targeted measures accordingly. Relevant departments were required to take it seriously and work closely with each other to ensure the timely delivery of solvency reports and relevant information so as to elevate the company’s risk management to a higher level.
