Legal provisions that insurance companies cannot fail.

Legal analysis: We should know that insurance companies will not "fail". Because the CIRC does not allow insurance companies to file for bankruptcy. Filing for bankruptcy is actually a kind of protection for the property of the company owner. It is allowed by the state. However, the CIRC has deprived the insurance company of this right, or the insurance law has deprived the insurance company of this right. Insurance companies, like banks, must be supervised by the government. Therefore, the insurance income is basically achievable.

Legal basis: People's Republic of China (PRC) Insurance Law.

Article 89 An insurance company needs to be dissolved due to division or merger, or the shareholders' meeting or the shareholders' general meeting decides to dissolve, or the reasons for dissolution stipulated in the articles of association arise, and it shall be dissolved after being approved by the the State Council Insurance Regulatory Authority. An insurance company engaged in life insurance business shall not be dissolved except for division, merger or cancellation according to law. When an insurance company is dissolved, a liquidation group shall be established according to law for liquidation.

Article 88 An insurance company shall report to the insurance supervision and administration institution when it hires or dismisses accounting firms, asset appraisal institutions, credit rating agencies and other intermediary service institutions. If an accounting firm, an asset appraisal agency, a credit rating agency and other intermediary service agencies are dismissed, reasons shall be given.

Article 92 If an insurance company engaged in life insurance business is revoked or declared bankrupt according to law, its life insurance contract and liability reserve must be transferred to other insurance companies engaged in life insurance business; If the transfer agreement cannot be reached with other insurance companies, the insurance company operating life insurance business designated by the State Council Insurance Regulatory Authority shall accept the transfer. If the life insurance contract and liability reserve specified in the preceding paragraph are transferred or accepted by the the State Council Insurance Regulatory Authority, the legitimate rights and interests of the insured and beneficiaries shall be safeguarded.