1. Articles of Association in compliance with the provisions of the Insurance Law and the Company Law. The statutory articles of association of an insurance company must comply with the corresponding provisions of the Company Law on the articles of association of wholly state-owned companies and joint stock limited companies.
2. It meets the minimum registered capital stipulated in this Law. According to the Insurance Law, the minimum registered capital of an insurance company is 200 million yuan.
3. Qualified senior managers. As a senior manager of the head office of a Chinese-funded insurance company, one must be a citizen of People's Republic of China (PRC), abide by the laws and regulations of People's Republic of China (PRC), implement national policies, have insurance professional knowledge and strong management and business ability, and must also have a bachelor's degree or above in economics, finance or other related majors. At the same time, in terms of personnel quality, insurance companies should have more than 60 employees engaged in insurance work and college insurance majors or related majors. Insurance companies engaged in life insurance business must employ actuarial professionals recognized by insurance regulatory authorities.
4. Have a sound organizational structure and management system. A sound organization refers to a sound power organization, operation organization and supervision organization.
5. Having a business place that meets the requirements and other business-related facilities.
6. The development of insurance industry and the need for fair competition should also be considered.