Which government department is responsible for the supervision of insurance companies?

Legal Analysis: China Insurance Regulatory Commission (hereinafter referred to as CIRC) is the competent department of commercial insurance in China, and it is authorized by the State Council to perform its supervisory duties on insurance companies according to law.

Legal basis: Article 67 of the Insurance Law of People's Republic of China (PRC) was approved by the insurance regulatory agency of the State Council.

When examining the application for the establishment of an insurance company, the insurance regulatory agency of the State Council shall consider the development of the insurance industry and the need for fair competition.