1. Organization. The organizational forms of insurance brokerage companies include Chinese insurance brokerage companies, foreign insurance brokerage companies and joint venture insurance brokerage companies.
To apply for the establishment of an insurance brokerage company, the following conditions shall be met:
(1) The minimum paid-in monetary capital is RMB100000 yuan. According to the decision of the CIRC, the first paragraph of Article 7 of the Regulation on the Supervision of Professional Insurance Agencies is amended as: "The minimum registered capital for the establishment of professional insurance agencies is RMB 50 million, unless otherwise stipulated by the China CIRC." In addition, article 12 of the original provisions is deleted.
(2) Having a company's articles of association that meet the requirements of the law.
(3) The company has no less than 30 employees, and the number of people holding qualification certificates is not less than 1/2 of the total number of employees.
(4) Having senior management personnel who meet the post qualification requirements of China CIRC.
(5) Having a fixed business place that meets the requirements.
A foreign insurance brokerage company applying for the establishment of a foreign-funded insurance brokerage company shall meet the following conditions in addition to the above conditions:
(1) has a good credit standing and has not been severely punished by the competent authorities and judicial departments of the host country in the last three years.
(2) Having been engaged in insurance brokerage business for more than 20 years.
(3) Its business income for three consecutive years before the application is not less than 1 billion USD.
(4) Having a representative office in China for more than two years.
(5) The host country has a sound insurance supervision system.
(six) the proposed senior management personnel meet the qualifications stipulated by the China Insurance Regulatory Commission.
(seven) other conditions stipulated by the China Insurance Regulatory Commission.
In addition to the above seven provisions, the Chinese party shall be an enterprise that meets the following conditions:
(1) The credit status is good, and it has not been severely punished by the state authorities and judicial departments in the last three years.
(2) It has been profitable for three consecutive years before the application.
(3) Its capital at the end of the year before the application is filed is not less than 50 million yuan.
(4) Other conditions stipulated by the China Insurance Regulatory Commission.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.