From 2065438 to September 2006, the working group of the China Insurance Regulatory Commission entered Fude Life Insurance for the second time, facing the equity restructuring. In fact, the law does not allow insurance companies to "close down". Paragraph 2 of Article 89 of the Insurance Law of People's Republic of China (PRC) stipulates that "an insurance company engaged in life insurance business shall not be dissolved except for division, merger or cancellation according to law".
Therefore, in China, the bankruptcy of insurance companies is only for property insurance companies, and life insurance companies will not go bankrupt. Life insurance companies can't take the initiative to apply for bankruptcy, but can only be acquired or reorganized.