The FSC, acting upon the authority of Article 146-2, Paragraph 4 of the "Insurance Act," drafted the "Regulations Governing Real Estate Investments by Insurance Enterprises" and issued them on 12 November 2021. Key items set out in the Directions include: internal handling procedures for real estate investments; the types of real estate in which investments are allowed; standards, handling principles and other requirements for determining what constitutes real estate that can be used immediately with reasonable benefit. The intent of these Regulations is to strengthen management of insurers' real estate investments, afford insurers greater flexibility in the management of their real estate investments, and to ensure that insurers' real estate investments are made for the purpose of obtaining long-term, stable returns.