Feb 06, 2023 08:40 PM

FINANCE

China Pushes Ahead With Restructuring of Tomorrow Holding-Linked Insurers

By Wu Yujian and Kelsey Cheng

Headquarters of China Banking and Insurance Regulatory Commission in Beijing, Sept. 20, 2022. Photo: VCG

Headquarters of China Banking and Insurance Regulatory Commission in Beijing, Sept. 20, 2022. Photo: VCG

The restructuring and risk disposal work of four insurance companies linked to Tomorrow Holding Co. Ltd. is proceeding orderly, according to China’s top insurance regulator, as authorities pushed ahead with efforts to defuse financial risks associated with the embattled private conglomerate.

The work will effectively resolve risks and protect the rights and interests of insurance consumers, officials at the China Banking and Insurance Regulatory Commission (CBIRC) said Friday.

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