The law stipulates that insurance companies are not allowed to close down.

Legal analysis: First of all, 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. The above rules are basically applicable to the global insurance industry. The experience of insurance companies can't go on, but they are accepted by other companies and continue to fulfill their commitments in the original policy.

Legal basis: Article 92 of People's Republic of China (PRC) Insurance Law stipulates that 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.