You are here:HomeNews CenterInsurance News2013NAIC, China Renew International Insurance Education Initiative

NAIC, China Renew International Insurance Education Initiative

U.S. insurance regulators will continue an information sharing and cooperation initiative to help their counterparts in China learn about U.S. insurance regulatory practices...
April 2, 2013

U.S. insurance regulators will continue an information sharing and cooperation initiative to help their counterparts in China learn about U.S. insurance regulatory practices. The National Association of Insurance Commissioners (NAIC) said it has signed a Memorandum of Understanding with the China Insurance Regulatory Commission to underscore the NAIC’s commitment to its International Fellows Program, which to date has hosted 37 regulators from China. “Insurance markets have become more global, and extended relationships with regulators abroad are critical to protecting our interests here in the U.S.,” said Thomas B. Leonardi, chair of the NAIC International Insurance Relations Committee and Connecticut insurance commissioner. “Since China has undertaken key financial sector reforms and lowered trade barriers to foreign investment in insurance companies, there has been tremendous growth in their market.”

Filed under: