Insurance companies are legally allowed to go bankrupt, but it is less likely. There is usually no need to worry about the bankruptcy of insurance companies. China's Insurance Law stipulates that the change of name or registered capital of an insurance company shall be approved by the insurance regulatory agency.
Legal objectivity:
People's Republic of China (PRC) insurance law
Article 84
In any of the following circumstances, an insurance company shall be approved by the insurance regulatory agency:
(a) change the name;
(2) Change of registered capital;
(3) Changing the business premises of the company or its branches;
(4) Revocation of branches;
(5) Division or merger of the company.
(6) Amending the Articles of Association.
(7) Changing shareholders whose capital contribution accounts for more than 5% of the total capital of a limited liability company, or changing shareholders who hold more than 5% of the shares of a joint stock limited company;
(eight) other circumstances stipulated by the the State Council insurance regulatory agency.