The dispatched office of China CIRC shall perform its supervisory duties according to law within the scope authorized by China CIRC. Article 3 The term "insurance company" as mentioned in these Provisions refers to a commercial insurance company established with the approval of the insurance regulatory agency and registered according to law.
The term "branches of insurance companies" as mentioned in these Provisions refers to branches, central branches, branches, business departments, marketing service departments and various franchisees established by insurance companies with the approval of insurance supervision and administration institutions. The establishment and management of exclusive institutions shall be stipulated separately by the China Insurance Regulatory Commission.
The insurance institutions mentioned in these Provisions refer to insurance companies and their branches. Article 4 The term "branch" as mentioned in these Provisions refers to a branch established by an insurance company according to law and named after the branch.
The term "provincial branch" as mentioned in these Provisions refers to the branches of insurance companies that are responsible for licensing applications, report submission and other related matters in all provinces, autonomous regions and municipalities directly under the Central Government according to the regulatory requirements of the China Insurance Regulatory Commission. Where an insurance company establishes a branch in a province, autonomous region or municipality directly under the Central Government other than its domicile, it shall designate one of them as a provincial branch.
Where an insurance company establishes a branch in a city with separate plans, it shall, according to the regulatory requirements of the China Insurance Regulatory Commission, designate a branch to be responsible for licensing applications, report submission and other related matters in a city with separate plans.
Where a provincial branch is located in a city under separate state planning, the provincial branch shall also be responsible for the matters specified in the preceding two paragraphs. Article 5 Insurance business shall be operated by insurance companies established in accordance with the Insurance Law and other insurance organizations as prescribed by laws and administrative regulations. No other unit or individual may engage in insurance business or in disguised form. Chapter II Establishment of a Legal Person Institution Article 6 The establishment of an insurance company shall follow the following principles:
(1) Compliance with laws and administrative regulations;
(2) It is conducive to fair competition and healthy development of the insurance industry. Article 7 To establish an insurance company, an application for preparation shall be submitted to the China Insurance Regulatory Commission, and the following conditions shall be met:
(a) there are investors who meet the requirements of laws, administrative regulations and the provisions of the China Insurance Regulatory Commission, and the shareholding structure is reasonable;
(2) Having draft articles of association that conform to the provisions of the Insurance Law and the Company Law;
(3) The investor promises to contribute or subscribe for shares, and the registered capital to be registered is not less than 200 million yuan, and it must be paid-in monetary capital;
(4) Having a clear development plan, business strategy, organizational structure and risk control system;
(5) The chairman and general manager to be appointed shall meet the post-holding qualifications stipulated by the China Insurance Regulatory Commission;
(six) the person in charge of the preparatory group recognized by the investors;
(seven) other conditions stipulated by the China Insurance Regulatory Commission.
China CIRC may adjust the minimum registered capital of an insurance company according to its business scope and scale, but it shall not be less than RMB 200 million. Article 8 To apply for the establishment of an insurance company, the applicant shall submit the following materials in triplicate:
(1) An application for establishment, which shall specify the name, registered capital and business scope of the insurance company to be established;
(2) A feasibility study report on the establishment of an insurance company, including the development plan, business strategy, organizational structure and risk control system;
(3) making plans;
(4) Draft articles of association of the insurance company;
(5) Relevant materials required by the China Insurance Regulatory Commission to be submitted by investors;
(six) the list of the person in charge of the preparatory group, the proposed chairman and general manager, and the certificate of my approval;
(seven) other materials as prescribed by the China Insurance Regulatory Commission. Article 9 The CIRC of China shall examine the application for establishing an insurance company, make a decision of approval or disapproval within six months from the date of accepting the application, and notify the applicant in writing. If it decides not to approve, it shall explain the reasons in writing. Article 10 When examining and approving the application for the establishment of an insurance company, the CIRC of China shall give investors a risk warning.
China CIRC shall listen to the working ideas of the proposed chairman and general manager on the management and business development of the insurance company to be established. Article 11 Where an insurance company is established with the approval of the China Insurance Regulatory Commission, the applicant shall complete the preparatory work within 65,438+0 years from the date of receiving the notice of approval. If the preparatory work is not completed at the expiration of the preparatory period, the original decision to approve the preparatory work will automatically become invalid.
The preparatory organization shall not engage in insurance business activities during the preparatory period. The major investors shall not be changed during the preparation period. Article 12 After the preparatory work is completed, if the following conditions are met, the applicant may apply to the China Insurance Regulatory Commission for starting business:
(1) Shareholders shall abide by laws, administrative regulations and relevant provisions of the China Insurance Regulatory Commission;
(2) Having articles of association that conform to the provisions of the Insurance Law and the Company Law;
(3) The minimum registered capital is RMB 200 million, and it must be paid-in monetary capital;
(4) The directors, supervisors and senior managers meet the post-holding qualifications stipulated by the China Insurance Regulatory Commission;
(5) Having a sound organizational structure;
(6) It has established a sound business, financial, compliance, risk control, asset management, anti-money laundering and other systems;
(seven) according to the principle of matching assets and liabilities, there are specific business development plans and medium-and long-term asset allocation plans;
(eight) there is a legitimate business place, and the safety and fire control facilities meet the requirements. The business premises and office equipment are suitable for the business development plan, and the information construction meets the requirements of the China Insurance Regulatory Commission;
(9) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.