Foreign insurance companies directly or indirectly hold shares in joint venture life insurance companies, and shall not exceed the proportion limit stipulated in the preceding paragraph. Article 4 A foreign-funded insurance company shall have at least 65,438+0 normal operating insurance companies as its major shareholders. If the equity is changed, at least 65,438+0 normal operating insurance companies shall be its major shareholders after the change.
The major shareholder refers to the shareholder with the largest shareholding ratio, and other shareholders who have significant influence on the company's operation and management as stipulated by laws, administrative regulations and China Banking Regulatory Commission. The shareholding ratio of shareholders, their related parties and concerted parties shall be calculated together. Article 5 The major shareholders of a foreign-funded insurance company shall promise not to transfer their shares within five years from the date of becoming a shareholder, and state this in the articles of association of the foreign-funded insurance company.
Risk disposal is approved by CBRC, and transfer is ordered by CBRC according to law, which involves judicial enforcement or equity transfer between different entities controlled by the same controller, except in special circumstances. Article 6 Where a major shareholder of a foreign-funded insurance company intends to reduce its shares or withdraw from the China market, it shall fulfill its shareholder obligations and ensure that the solvency of the insurance company meets the regulatory requirements. Article 7 The registered capital or working capital of a foreign-funded insurance company shall be paid-in currency. Article 8 After the establishment of a branch of a foreign insurance company, the working capital shall not be withdrawn in any form. Article 9 The term "before application for establishment 1 year-end" mentioned in Item 1 of Article 8 of the Regulations refers to the end of the fiscal year before the date of application. Article 10 Other prudential conditions mentioned in Item (5) of Article 8 of the Regulations shall at least include the following conditions:
(1) The corporate governance structure is reasonable;
(2) The risk management system is sound.
(3) The internal control system is sound;
(4) The management information system is effective;
(5) It is in good operating condition and has no record of major violations of laws and regulations. Article 11 Where an applicant cannot provide the business license (copy) required by Item 2 of Article 9 of the Regulations, he may provide a valid copy of the business license or a written certificate issued by the relevant competent authority that the applicant has the right to engage in insurance business. Article 12 The certificate of the competent authority of the country or region where the foreign applicant is located mentioned in Item (2) of Article 9 of the Regulations shall include one of the following contents:
(1) The solvency of the applicant meets the regulatory requirements of the country or region in the last fiscal year on the date when the certificate is issued by the relevant competent authority;
(2) In the last fiscal year on the date when the certificate is issued by the relevant competent authority, the applicant has no record that does not meet the solvency standards of the country or region. Article 13 The opinions of the competent authorities of the country or region where the foreign applicant is located mentioned in Item (2) of Article 9 of the Regulations shall include the following contents:
(1) Whether the applicant's application for establishing an insurance institution in China complies with the laws and regulations of that country or region;
(2) Whether the applicant's application is approved;
(three) the record of the punishment of the applicant in the first three years from the date when the relevant competent authorities issued their opinions. Article 14 The annual report mentioned in Item (3) of Article 9 of the Regulations shall include the balance sheet, profit and loss statement and cash flow statement of the applicant in the three fiscal years before the date of application.
The statements listed in the preceding paragraph shall be accompanied by an audit opinion issued by an accounting firm or audit firm recognized by the country or region where the applicant is located. Article 15 The China applicant mentioned in Item (4) of Article 9 of the Regulations shall meet the requirements of the Measures for the Administration of Equity in Insurance Companies and other relevant provisions, except as otherwise provided by laws and administrative regulations or approved by the State Council. Article 16 The person in charge of the preparation of the proposed foreign-funded insurance company shall meet the following conditions:
(1) College degree or above;
(two) engaged in insurance or related work for more than 2 years;
(3) No criminal record. Article 17 Where an applicant applies for extending the preparatory period according to Article 11 of the Regulations, he shall submit a written application to the China Banking Regulatory Commission 65,438+0 months before the expiry of the preparatory period, and explain the reasons. Article 18 The preparation report mentioned in Item 1 of Article 11 of the Regulations shall summarize the contents of other items in this article. Article 19 The statutory capital verification institution mentioned in Item (4) of Article 11 of the Regulations refers to an accounting firm that meets the requirements of China Banking Regulatory Commission. Article 20 The capital verification certificate mentioned in Item (4) of Article 11 of the Regulations shall include the following contents:
(1) A capital verification report issued by a statutory capital verification institution;
(2) A copy of the original bank entry certificate of the registered capital or working capital.