Many overseas insurance against Beijing thoroughly purge of illegal foreign life insurance company

Many overseas insurance against Beijing thoroughly purge of illegal foreign life insurance companies – Beijing thoroughly purge of illegal overseas insurance against foreign life insurance companies, UnionPay international voice in the weekend twice, reiterated domestic UnionPay card in the importance of using overseas insurance businesses. At the same time, the insurance regulatory authorities is also related with the thorough research work. Many overseas insurance against illegal insurance purge action is continuous. In recent years, the mainland consumers to buy overseas insurance, especially the amount of insurance in Hongkong rose sharply, causing concern. Hongkong Insurance Regulatory Bureau data show that in the first half of 2016, the gross margin of the Hongkong insurance industry was HK $207 billion 500 million, an increase of 12.2%. Among them, the first half of 2016, Hongkong individual new single premium of HK $81 billion 500 million. In the 81 billion 500 million Hong Kong dollar personal new single premiums, new single premiums from mainland visitors to HK $30 billion 100 million, contribution ratio as high as 36.9%, while the end of 2015, at the end of 2014 at the end of 2013, the contribution ratio were 24.2%, 21.4%, 16.1%. In accordance with China’s foreign exchange management system, the mainland residents to buy foreign investment dividends insurance, is a financial and capital transactions, is not yet open projects. In accordance with the requirements of regulatory policy, China UnionPay cards issued outside only for personal travel, consumer payment, shall not be used for the capital and financial account transactions, therefore, UnionPay cards can only be used in overseas travel accident and illness and other consumer related projects often can not buy insurance, with capital investment properties of life insurance. However, the recent Union after the merchant transaction monitoring has found that the presence of a number of foreign insurance businesses in the presence of a single card single merchant transaction volume surge. In order to further standardize the overseas insurance businesses accept domestic UnionPay card, recently, the International Union issued a "overseas insurance businesses accept UnionPay cards in compliance guidelines" (hereinafter referred to as the "guide" "), reiterated that the relevant regulatory requirements and business rules, ensure compliance within the territory of China UnionPay cards in overseas use. The International Union of interpretation of the relevant responsible person said, the "guide" of the current trial in the Hongkong area, suitable for the overseas insurance businesses accept domestic UnionPay card in the POS terminal, Internet, mobile payment and all other channels, the main contents include: first, domestic residents in the purchase of overseas travel accident, and consumer related diseases often project insurance you can use UnionPay card payment, insurance, other items prohibited the use of UnionPay card payment; two is the amount of consumption of overseas insurance businesses to strictly implement the provisions of the foreign exchange policy in a single transaction does not exceed $5000 or equivalent in other foreign currency restrictions; three is to strengthen the overseas acquiring institutions of insurance business management, including accurate set merchant category code to strengthen the business training and abnormal transaction monitoring, strengthen business inspection etc.. Prior to this, the China Insurance Regulatory Commission in May this year released "on the strengthening of the notice" illegal sale of overseas insurance product behavior supervision requirements, whether it is domestic consulting, finance and insurance intermediary institutions or individuals, accepting foreign institutional interests within the territory to the product description, financial summit, financial knowledge lecture the name of publicity and promotion on exit相关的主题文章: