No 1 of 2009
The Regulations on the Administration of Insurance Companies, which was deliberated and adopted at the chairman's office meeting of China Insurance Regulatory Commission on September 8, 2009, is hereby promulgated and shall come into force on June 0, 2009.
President Wu Dingfu.
Press release issued on 25 September 2009
Chapter II Establishment of Legal Person Institutions
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.
Article 13 When applying for starting a business, the applicant shall submit the following materials in triplicate:
(1) An application for starting business;
(two) the resolution of the founding meeting, if there is no resolution of the founding meeting, it shall submit a document or resolution that all shareholders agree to apply for business opening;
(3) Articles of association;
(4) The name of the shareholder and the copy of the capital verification certificate and original entry voucher issued by the capital verification institution with good credit standing;
(5) Relevant materials required by the China Insurance Regulatory Commission to be submitted by shareholders;
(6) Resumes and relevant certification materials of the directors, supervisors and senior managers of the company to be proposed;
(7) The establishment of company departments and the basic composition of personnel;
(8) documents certifying the ownership or right to use the business premises;
(nine) in accordance with the provisions, submit the relevant fire proof of the proposed place;
(10) Plans for the types of insurance to be operated, 3-year business plans, reinsurance plans, medium and long-term asset allocation plans, and major systems such as business, finance, compliance, risk control, asset management and anti-money laundering;
(eleven) information construction report;
(12) Notice of pre-approval of company name;
(thirteen) other materials required by the China Insurance Regulatory Commission.
Article 14 The CIRC of China shall examine the application for business opening, accept the application for business opening, and make a decision of approval or disapproval within 60 days from the date of accepting the application for business opening. Those who pass the inspection and are allowed to start business shall be issued with insurance business licenses; If the unqualified acceptance decides not to approve the opening of business, it shall notify the applicant in writing and explain the reasons.
An insurance company that has been approved to start business shall go through the registration formalities with the administrative department for industry and commerce with the approval document and the insurance business license, and can start business only after obtaining the business license.
Chapter III Establishment of Branches
Article 15 An insurance company may apply for establishing a branch according to the needs of business development.
The levels of branches of insurance companies are branches, central branches, subsidiaries, sales departments or marketing service departments in turn. An insurance company shall not set up branches step by step, but it shall set up branches in advance when conducting business in provinces, autonomous regions and municipalities outside its domicile.
An insurance company shall not manage its subordinate branches step by step according to the hierarchy specified in the preceding paragraph; The sales department and the marketing service department do not manage other branches.
Article 16 An insurance company with a minimum capital of 200 million yuan shall increase its registered capital by not less than 20 million yuan when applying for establishing a branch in every province, autonomous region or municipality directly under the Central Government outside its domicile for the first time.
When applying for the establishment of a branch, if the registered capital of an insurance company reaches the amount after capital increase as stipulated in the preceding paragraph, the corresponding registered capital may not be increased.
The registered capital of an insurance company reaches 500 million yuan, and it is not necessary to increase the registered capital to set up a branch with sufficient solvency.
Seventeenth to set up a provincial branch, apply to the insurance company head office; The establishment of other branches shall be applied by the head office of the insurance company, or by the provincial branch with the approval documents of the head office.
To apply for the establishment of a branch in a city under separate state planning, the branch designated by the insurance company according to the third paragraph of Article 4 of these Provisions may also apply with the approval document of the head office.
Article 18 To establish a branch, an application for establishment shall be filed and the following conditions shall be met:
(a) the solvency of the previous year is sufficient, and it has been sufficient for two consecutive quarters before submitting the application;
(2) The insurance company has a good corporate governance structure and sound internal control;
(3) The applicant has a sound branch management system;
(4) Fully demonstrating the feasibility of the proposed branch;
(5) Where an application is made for the establishment of a branch other than a provincial branch in a province, autonomous region or municipality directly under the Central Government other than its domicile, the provincial branch has already started business;
(6) The applicant has not been subjected to any major administrative punishment by the financial regulatory agency in the last two years, and has not been investigated by the China Insurance Regulatory Commission for any suspected major illegal act;
(7) applying for the establishment of a branch other than a provincial branch, where the provincial branch is located in the province, autonomous region or municipality directly under the Central Government, and the established branch has no record of major administrative punishment by the financial regulatory agency in the last two years, and the insured has no record of major administrative punishment in the last six months;
(eight) the person in charge of the preparation approved by the applicant;
(9) Other conditions stipulated by the China Insurance Regulatory Commission.
Article 19 To establish a branch, the applicant shall submit the following materials in triplicate:
(1) An application for establishment;
(2) Solvency reports for two consecutive quarters before the application and the audited solvency report of the previous year;
(3) A report on the corporate governance structure of the insurance company and the applicant's internal control system in the previous year;
(4) A feasibility report on the establishment of a branch, including the three-year business development plan and market analysis of the proposed institution, as well as an explanation that the establishment of a branch is compatible with the company's risk management and internal control;
(5) The management system of the applicant's branches;
(6) A statement that the applicant has not been subjected to major administrative punishment by the financial regulatory agency in the last two years;
(seven) to apply for the establishment of branches other than provincial branches, and submit a statement that the provincial branches have not been subject to major administrative penalties by the financial regulatory agencies in the last two years;
(eight) the resume of the person in charge of the institution to be established and relevant certification materials;
(nine) other materials required by the China Insurance Regulatory Commission.
Article 20 The China Insurance Regulatory Commission shall, within 30 days from the date of receiving the complete application materials, make a written examination of the application for establishment. If it does not meet the requirements of Article 18 of these Provisions, it shall make a decision of disapproval and explain the reasons in writing. In accordance with the provisions of article eighteenth, a notice shall be issued to the applicant.
Article 21 The applicant shall complete the preparatory work of the branch within 6 months from the date of receiving the notice of preparatory work. The preparation period is not counted in the administrative licensing period.
If the preparatory work is not completed at the expiration of the preparatory period, an application for establishment shall be re-submitted in accordance with these provisions.
The preparatory organization shall not engage in any insurance business activities during the preparatory period.
Article 22 After the preparatory work is completed, if the preparatory organization meets the following conditions, the applicant may submit a business acceptance report to the China Insurance Regulatory Commission:
(1) It has a legal business place, and the safety and fire control facilities meet the requirements;
(2) It has established the necessary organizational structure and perfect management systems for business, finance, risk control, asset management and anti-money laundering;
(3) Establishing an information system suitable for business management activities;
(4) Having a proposed senior manager or principal responsible person who meets the post requirements;
(5) Having conducted on-the-job training for employees;
(six) did not start insurance business during the preparation period;
(seven) other conditions stipulated by the China Insurance Regulatory Commission.
Article 23 The opening acceptance report submitted by the applicant shall be accompanied by the following materials in triplicate:
(1) Report on the completion of the preparatory work;
(2) Resumes and relevant certificates of the proposed senior managers or principals;
(3) Proof of ownership or right to use the business premises of the proposed institution;
(four) computer equipment configuration, application system and network construction report;
(five) business, finance, risk control, asset management, anti-money laundering and other systems;
(6) Report on the organization and employees, including the report on employee induction training, etc. ;
(seven) failing to submit the relevant fire proof of the proposed place in accordance with the provisions, failing to carry out fire inspection or filing, and submitting the written commitment made by the applicant to take necessary measures to ensure fire safety;
(eight) other materials required by the China Insurance Regulatory Commission.
Article 24 The China Insurance Regulatory Commission shall, within 30 days from the date of receiving the complete report on the opening acceptance, conduct the opening acceptance, and make a decision on approval or disapproval. If the establishment is approved after acceptance, the insurance business license shall be issued; If the establishment is not approved due to unqualified acceptance, it shall notify the applicant in writing and explain the reasons.
Article 25 An approved branch of an insurance company shall go through the registration formalities with the administrative department for industry and commerce with the approval document and the Insurance Business License of the branch before starting business.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.