First of all, Article 1 applies to insurance companies and insurance asset management companies. The Notice makes it clear that these two companies are not allowed to provide external guarantees, which is a prohibitive provision, but the following three types of guarantees are allowed in normal business management activities. Simply put, it refers to the guarantee business provided by insurance companies or insurance asset management companies for litigation preservation, as well as the credit guarantee and maritime guarantee related to export credit insurance operated by export credit insurance companies themselves. These three items do not simply belong to the guarantees often mentioned in the Guarantee Law, but the business scope of insurance companies or insurance asset management companies under the conditions of strict examination and risk assessment, and are simply businesses that may make money (risk assessment refers to the premise that profits are greater than losses);
The subject of Article 2 is an insurance group company, which is obviously different from the subject of Article 1. The two are the relationship between the group company and its subordinate member companies. As for the second article, my understanding is that when a subordinate member company needs a third party to provide guarantee for it, the group company can provide guarantee for the subordinate member company in strict accordance with the relevant provisions in the Measures for the Administration of Insurance Group Companies (Trial) and the Interim Measures for the Administration of Related Transactions of Insurance Companies. For example, Article 24 of the Administrative Measures for Insurance Group Companies (for Trial Implementation) stipulates that insurance group companies shall establish a unified group external guarantee system, and specify the conditions, quotas and approval procedures for external guarantees. The external guarantee of an insurance group company and its subsidiaries shall be reviewed and approved by the shareholders' meeting of the company at the corresponding level. The balance of external guarantee of an insurance group company and its subsidiaries shall not exceed 10% of its net assets. The Measures is a departmental regulation issued by the CIRC on 20 10, and the Notice is a regulation in 1 1. The principle that the new law is superior to the old law, and the notice prohibits the external guarantee behavior of insurance companies and insurance asset management companies, then the conditions for external guarantee of Article 24 insurance groups can still be applied. In other words, an insurance group can provide guarantees for its subordinate member companies without violating the relevant provisions of the Measures for the Administration of Insurance Group Companies (Trial) and the Interim Measures for the Administration of Related Transactions of Insurance Companies. Obviously, it does not belong to the normal business management activities of Article 1.
To sum up, the provisions of these two articles are different for different subjects and should be treated and applied differently.
Personal views may be wrong, for reference, welcome to correct me. Thank you.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.