Article 2 The term "insurance company" as mentioned in these Measures refers to an insurance company established with the approval of China Insurance Regulatory Commission (hereinafter referred to as "China Insurance Regulatory Commission") and registered according to law.
Article 3 The business scope mentioned in these Measures refers to the original insurance business of an insurance company, excluding reinsurance business, insurance fund utilization business and agency sales of products of other insurance companies.
China CIRC shall supervise and manage the business scope of insurance companies in accordance with relevant laws, administrative regulations and rules. Article 4 According to the nature and risk characteristics of insurance business, the business scope of an insurance company is divided into two levels: basic business and extended business.
Article 5 The basic business of a property insurance company includes the following five items:
(1) Motor vehicle insurance, including compulsory motor vehicle traffic accident liability insurance and motor vehicle commercial insurance;
(2) Enterprise/family property insurance and engineering insurance (except special risk insurance);
(3) Liability insurance;
(4) Ship/freight insurance;
(5) short-term health/accident insurance.
Article 6 The extended business of a property insurance company includes the following four items:
(1) Agricultural insurance;
(2) Special risk insurance, including aerospace insurance, marine development insurance, oil and gas insurance and nuclear insurance;
(3) Credit guarantee insurance;
(4) Investment insurance.
Article 7 The basic business of a life insurance company includes the following five items:
(1) General insurance, including life insurance and annuity insurance;
(2) health insurance;
(3) accidental injury insurance;
(4) Dividend insurance;
(5) universal insurance.
Article 8 The extended business of a life insurance company includes the following two items:
(1) Investment linked insurance.
(2) Variable annuity. Article 9 A newly established insurance company can only apply for basic business.
Article 10 A newly established property insurance company applying for basic business shall meet the following conditions:
(a) the minimum registered capital of 200 million yuan, can only apply for a basic business;
(2) For each additional basic business, the registered capital shall be increased by no less than 200 million yuan;
(3) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
Article 11 To apply for basic business, a newly established life insurance company shall meet the following conditions:
(1) If the minimum registered capital is 200 million yuan, only one of the first to third items can be applied;
(2) For each additional item in the first three items, the registered capital shall be increased by no less than RMB 200 million;
(3) If the applicant applies for one of the first three items, the fourth item and the fifth item, the registered capital shall not be less than 10 billion yuan;
(4) Apply for all basic businesses with a registered capital of not less than1500 million yuan;
(five) to apply for the fourth and fifth items, the first three items must be applied at the same time;
(6) Those who apply for items 2, 4 and 5 shall have a special internal control system, professionals, service capacity, information system and reinsurance scheme;
(7) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission. Article 12 An insurance company that changes its business scope shall be approved by the China Insurance Regulatory Commission.
Article 13 An insurance company may apply for expanding its business only after obtaining the qualifications of the first three basic businesses, and each application shall not exceed one, and the interval between two applications shall not be less than six months.
Article 14 A property insurance company applying for agricultural insurance business shall meet the following conditions:
(a) It has been operating continuously for more than three complete fiscal years;
(2) The average net assets at the end of the last three years are not less than 10 billion yuan;
(3) The solvency adequacy ratio at the end of last year and the last four quarters is not less than150%;
(4) It has no record of major violations of laws and regulations in the last three years;
(5) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
An insurance company applying for agricultural insurance business shall, after completing the change of business scope, submit an application to the China Insurance Regulatory Commission according to law.
Article 15 A property insurance company applying for special risk insurance business shall meet the following conditions:
(a) It has been operating continuously for more than three complete fiscal years;
(2) The average net assets at the end of the last three years are not less than 10 billion yuan;
(3) The solvency adequacy ratio at the end of last year and the last four quarters is not less than150%;
(4) The corporate governance structure is sound, the internal management is effective, all risk control indicators meet the requirements, and the results of classified supervision and evaluation in the last quarter are Class A or Class B;
(5) Having a special internal control system, professionals, service capacity, information system and reinsurance scheme;
(six) no record of major violations of laws and regulations in the last three years;
(7) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
Article 16 A property insurance company applying for credit guarantee insurance business shall meet the following conditions:
(a) It has been operating continuously for more than three complete fiscal years;
(2) Its average net assets at the end of the last three years are not less than 2 billion yuan;
(3) The solvency adequacy ratio at the end of last year and the last four quarters is not less than150%;
(4) The corporate governance structure is sound, the internal management is effective, all risk control indicators meet the requirements, and the results of classified supervision and evaluation in the last quarter are Class A or Class B;
(5) Having a special internal control system, professionals, service capacity, information system and reinsurance scheme;
(six) no record of major violations of laws and regulations in the last three years;
(7) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
Article 17 A property insurance company applying for investment insurance business shall meet the following conditions:
(a) It has been operating continuously for more than three complete fiscal years;
(2) The average net assets at the end of the last three years are not less than 3 billion yuan, and the total net profits in the last three fiscal years;
(3) The solvency adequacy ratio at the end of last year and the last four quarters is not less than150%;
(4) The corporate governance structure is sound, the internal management is effective, all risk control indicators meet the requirements, and the results of classified supervision and evaluation in the last quarter are Class A or Class B;
(5) Having a special internal control system, professionals, service capacity, information system and reinsurance scheme;
(6) Having an independent fund utilization management department, and establishing a sound fund utilization management system and risk control management system;
(seven) no record of major violations of laws and regulations in the last three years;
(8) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
Article 18 A life insurance company applying for investment in linked insurance business shall meet the following conditions:
(a) It has been operating continuously for more than three complete fiscal years;
(2) Its average net assets at the end of the last three years are not less than 2 billion yuan;
(3) The solvency adequacy ratio at the end of last year and the last four quarters is not less than150%;
(4) The corporate governance structure is sound, the internal management is effective, all risk control indicators meet the requirements, and the results of classified supervision and evaluation in the last quarter are Class A or Class B;
(5) Having a special internal control system, professionals, service capacity, information system and reinsurance scheme;
(six) no record of major violations of laws and regulations in the last three years;
(7) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
Article 19 A life insurance company applying for variable annuity business shall meet the following conditions:
(a) It has been operating continuously for more than six complete financial years;
(2) It has been allowed to engage in investment-linked insurance business for three years;
(3) Its average net assets at the end of the last three years are not less than 3 billion yuan;
(4) The solvency adequacy ratio at the end of last year and the last four quarters is not less than150%;
(5) The corporate governance structure is sound, the internal management is effective, all risk control indicators meet the requirements, and the results of classified supervision and evaluation in the last quarter are Class A or Class B;
(6) Having a special internal control system, professionals, service capacity, information system and reinsurance scheme;
(7) Having a stable investment management team and stable past investment performance;
(eight) no record of major violations of laws and regulations in the last three years;
(9) Other conditions stipulated by laws, administrative regulations and the China Insurance Regulatory Commission.
Article 20 If an insurance company has insufficient solvency or major violations of laws and regulations, the China CIRC may order it to stop accepting new business or limit its business scope according to law.
Article 21 If the China CIRC orders an insurance company to stop accepting new business, restrict its business scope or apply for reducing its business scope voluntarily, the insurance company shall properly handle its existing business, continue to perform its underwriting responsibilities, or transfer its business to a qualified insurance company in accordance with the Interim Measures for the Administration of Insurance Business Transfer of Insurance Companies. Article 22 The application materials submitted by the applicant must be true, accurate and complete.
Article 23 A newly established insurance company applying for health insurance business, dividend insurance business or universal insurance business shall provide special internal control system, professionals, service capacity, information system and reinsurance scheme.
Article 24 An insurance company that changes its business scope shall submit a written application to the China Insurance Regulatory Commission and submit the following materials:
(a) the resolution of the shareholders' meeting or the resolution of the shareholders' meeting;
(2) A feasibility report on changing the business scope;
(3) Proof materials of special internal control system, professionals, service capacity, information system and reinsurance scheme;
(4) Where a property insurance company applies for investment-type insurance business, it shall also provide certification materials of an independent fund utilization management department, fund utilization management system and risk control management system;
(5) If a life insurance company applies for investment in linked insurance business or variable annuity business, it shall also provide the investment management team and the certification materials of past investment performance;
(6) Other materials required by the China CIRC. Article 25 These Measures shall not apply to insurance group (holding) companies, insurance asset management companies, exclusive property insurance companies, mutual insurance companies, insurance cooperatives and professional insurance companies, unless otherwise stipulated by the China Insurance Regulatory Commission.
Article 26 These Measures shall apply to professional insurance companies engaged in businesses other than their main business.
Twenty-seventh insurance companies in violation of these measures, illegal business, the China Insurance Regulatory Commission will be punished according to law.
Article 28 The China Insurance Regulatory Commission shall be responsible for the interpretation of these Measures.
Article 29 These Measures shall come into force as of the date of promulgation.