Principles for the use of insurance funds:
Article 18 Insurance group (holding) companies and insurance companies shall implement intensive and specialized management of insurance funds in accordance with the requirements of "centralized management, unified allocation and specialized operation".
Insurance funds shall be uniformly managed and used by legal person institutions, and branches shall not engage in the use of insurance funds.
Article 19 Insurance group (holding) companies and insurance companies shall choose qualified professional institutions such as commercial banks to implement third-party custody and supervision over the use of insurance funds. The specific measures shall be formulated by the China Insurance Regulatory Commission.
The insurance assets under custody are independent of the inherent assets of the custodian institution and other assets under custody of the custodian institution. If the custodian institution is liquidated due to dissolution, cancellation or bankruptcy according to law, the custody assets do not belong to its liquidation property.
Article 20 The main responsibilities of a custodian institution engaged in the custody of insurance funds include:
(1) Custody, liquidation, delivery and asset evaluation of insurance funds;
(2) Supervising investment behavior;
(3) disclosing information to relevant parties;
(4) Keeping business secrets according to law;
(five) other duties as stipulated by laws, regulations, the China Insurance Regulatory Commission and the contract.
Article 21 A custodian institution engaged in the custody of insurance funds shall not commit any of the following acts:
(1) Misappropriation of trust funds.
(2) Mixed management of custody funds and self-owned funds or mixed management of funds in different custody accounts;
(three) the use of trust funds and related information to seek illegal interests;
(4) Other illegal acts.
Article 22 The investment management capabilities of insurance group (holding) companies and insurance companies shall meet the relevant standards stipulated by the China Insurance Regulatory Commission.
Insurance group (holding) companies and insurance companies may, according to their investment management capabilities and risk management capabilities, invest by themselves or entrust insurance asset management institutions to make investments.
Article 23 Where an insurance group (holding company) or insurance company entrusts an insurance asset management institution to invest, it shall conclude a written contract to stipulate the rights and obligations of both parties, and ensure the independence of the responsibilities of the trustor, trustee and custodian.
Insurance group (holding) companies and insurance companies shall perform the duties of formulating strategic asset allocation guidelines, selecting trustees, supervising the implementation of trustees and evaluating the investment performance of trustees.
An insurance asset management institution shall implement the customer asset allocation guidelines, build a portfolio according to the characteristics of insurance funds, and treat different funds fairly.
Article 24 An insurance group (holding company) or an insurance company shall not commit the following acts when entrusting an insurance asset management institution with investment:
(1) Obstructing or interfering with the normal performance of duties by the trustee;
(2) Asking the trustee to provide information of other trustees;
(3) Require the trustee to provide a minimum investment income guarantee;
(4) Illegal transfer of insurance interests;
(5) Other illegal acts.
Article 25 An insurance asset management institution entrusted with the management of insurance funds shall not commit any of the following acts:
(a) investment in violation of the contract;
(2) The treatment of different funds is unfair;
(3) Mixed management of its own funds, entrusted funds or funds of different entrusted institutions;
(4) misappropriating the entrusted funds.
(five) to provide the minimum investment income commitment to the entrusting institution;
(six) to provide security for others with insurance funds and assets formed by their investment;
(seven) other illegal acts.
Article 26 An insurance asset management institution may, in accordance with the relevant provisions of the China Insurance Regulatory Commission, take the investment varieties within the scope of insurance funds as basic assets and conduct insurance asset management products business.
When an insurance group (holding company) or an insurance company entrusts to invest or purchase insurance asset management products, the insurance asset management institution shall, in accordance with the contract, timely disclose information such as capital investment, investment management, fund custody, risk management and major emergencies to the relevant parties, and ensure the truthfulness, accuracy and completeness of the disclosed information.
An insurance asset management institution shall, according to the scale of entrusted assets, asset categories, product risk characteristics, investment performance and other factors, sign a contract with the client or investment institution in accordance with the principle of marketization, and stipulate the accrual standard and payment method of management fee income.
Insurance asset management product business refers to the investment management activities in which insurance asset management institutions, as issuers and managers, sell product shares to investors such as insurance group (holding) companies, insurance companies and insurance asset management institutions, raise funds, and choose professional institutions such as commercial banks as custodians for the interests of investors.