1. It has articles of association that conform to the provisions of this 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 has the minimum registered capital that meets the requirements of this Law. According to the Insurance Law, the minimum registered capital of an insurance company is 200 million yuan.
3. There are 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, more than 60% employees of insurance companies should have the experience of engaging in insurance work, graduating from insurance major in colleges or universities 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.
Procedures for formally applying for establishing an insurance company
I. Preliminary application
1. Application for establishment, which shall specify the name, registered capital and business scope of the insurance company to be established;
2. Feasibility study report;
3. Prepare the plan;
4. The business license or other background information of the investor, and the financial and accounting report of the previous year audited by an accounting firm;
5. The list of the person in charge of the preparatory group and the proposed chairman and manager recognized by the investors and their approval certificates;
6. Other materials as prescribed by the the State Council Insurance Regulatory Authority.
Second, the preparatory work
Article 7 1 of the Insurance Law stipulates: "The the State Council insurance supervision and administration institution shall examine the application for establishing an insurance company, make a decision of approval or disapproval within six months from the date of acceptance, and notify the applicant in writing. If it decides not to approve, it shall explain the reasons in writing. " Article 72 also stipulates: "The applicant shall complete the preparatory work within one year from the date of receiving the notice of approval; No insurance business activities are allowed during the preparation period. "
Three. Application for formal establishment
After the preparatory work is completed, the applicant may submit a formal application for establishment and related documents to the competent department. Article 73 of China's Insurance Law stipulates: "After the preparatory work is completed, if the applicant meets the establishment conditions stipulated in Article 68 of this Law, he may apply to the insurance supervision and administration institution of the State Council for starting business. The State Council insurance supervision and administration institution shall, within 60 days from the date of accepting the application for business opening, make a decision on whether to approve or disapprove the business opening. If the decision is approved, the insurance business license shall be issued; If it decides not to approve, it shall notify the applicant in writing and explain the reasons. "
Four. registration of establishment
After obtaining the insurance business license, the applicant for establishing an insurance company may apply to the company registration authority for registration of establishment within the statutory time limit, and issue a business license after being approved by the company registration authority. The date when the business license is issued is the date when the insurance company is established. If an insurance company fails to register with the administrative department for industry and commerce within 6 months from the date of obtaining the insurance business license, its insurance business license shall be invalid.