On 9 August 2016, the China Insurance Regulatory Commission (“CIRC”) issued the Notice on Matters Relating to Collateral Provided by Offshore Reinsurers (Draft) (the “Draft Notice”) for public consultation. On 13 March 2017, CIRC released on its official website the final version of the notice (the “Final Version”), which has been effective since 23 February 2017. The Final Version sets out the requirements that collateral provided by offshore reinsurers must meet in order for a lower risk factor to be applied by the ceding company to the reinsurance under China’s risk-based solvency regime, C-ROSS.  The key features summarized in our previous blog post (please see full text here) remain the same in the Final Version, except for the following points: