On June 11, 2015, John Maroney and Peter Windsor, the officers of the International Association of Insurance Supervisors (IAIS) visited China Association of Actuaries (CAA), with Wang He,  vice-president of CAA, meeting the guests. Fu Zhenping partner of the actuarial consulting of Ernst & Young and Zhang Lijun the managing partner of risk management consulting service of PwC China were invited to attend this meeting, and performed thematic introduction and technical exchange in the technical details of China Risk Oriented Solvency System ("C-ROSS").

During the meeting, Wang He  made detailed introduction to the development of CAA, and gave a positive appraisal to the status quo of China insurance market and the impact of the C-ROSS on China insurance market. He indicated that current China insurance market is characterized by complication of product, wide scope of investment, diversification of market participants, etc., and the risk-oriented solvency system can adapt to market need better, and also bring opportunities and challenges to the actuaries. He Jiangang vice-director of Life Insurance and Health Insurance Work Department and Empirical Analysis Office introduced CAA’s work in building the C-ROSS, such as training and publicity, implementation and promotion, international exchange, etc.

Fu Zhenping the actuarial consulting partner of Ernst & Young and Zhang Lijun the managing partner of risk management consulting service of PwC China introduced framework, technical detail and implementation approach of C-ROSS’s first and second pillars to the IAIS delegates.

John Maroney the officer of IAIS has keen interest in the C-ROSS. He indicated that the C-ROSS regulatory regulations reflect the characteristics of the emerging market, which has good reference significance in building the regulatory regulations of global capital, and active impact on the sustainable development of global insurance market.