Article 53 of the Regulations on the Supervision of Professional Insurance Agencies stipulates: "If a professional insurance agency is under any of the following circumstances, the China Insurance Regulatory Commission will not extend the validity period of the license: (1) If the license expires and there is no application for renewal; (2) It no longer meets the conditions for the establishment of the company except the first paragraph of Article 6; (three) internal management confusion, unable to operate normally; (four) there is a major illegal act, which has not been effectively rectified; (5) Failing to pay the supervision fee as required. " If a professional insurance agency fails to extend the validity period due to the expiration of the license, or the license is withdrawn, revoked or revoked according to law, it shall organize liquidation or settle the insurance agency business according to law and withdraw from the insurance intermediary market.
The professional insurance agency needs to be dissolved due to division or merger, or dissolved according to the resolution of shareholders' meeting or shareholders' meeting, or the reasons for dissolution stipulated in the articles of association appear, it shall also be dissolved with the approval of the China Insurance Regulatory Commission. To apply for dissolution, an application for dissolution, the shareholders' meeting or the dissolution resolution of the shareholders' meeting, the liquidation organization and its responsible person, liquidation plan and other materials shall be submitted to the China Insurance Regulatory Commission in duplicate from the date of making the dissolution resolution 10.
When a professional insurance agency company is dissolved, it is found that it can't pay off its due debts during liquidation, and its assets are insufficient to pay off all its debts or obviously lack solvency, it shall file a bankruptcy application according to law, and its property liquidation and creditor's rights and debts shall be handled in accordance with legal bankruptcy procedures.
Where a professional insurance agency company has its business license revoked, revoked, ordered to close down or declared bankrupt by the people's court, it shall set up a liquidation group according to law, organize liquidation according to legal procedures, and submit a liquidation report to the China Insurance Regulatory Commission.
After a professional insurance agency withdraws from the insurance intermediary market, the China CIRC shall cancel its license according to law and make an announcement.