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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration

CIC to supervise China Reinsurance’s management

Posted on 22 June 2009

From China Knowledge: China Investment Corp (CIC), the country’s US$200 billion sovereign wealth fund, has taken over the supervision of China Reinsurance (Group) Corp’s management team from the China Insurance Regulatory Commission (CIRC), the nation’s insurance watchdog, according to an online statement published by CIC on Wednesday.

CIC’s news department said that CIC will be entitled to name senior managers at China Reinsurance, which is 85.5% held by Central Huijin Investment Co, an investment arm of CIC, and 14.5% owned by China’s Ministry of Finance (MOF)………Full Article: Source


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