The sole foreign shareholder or major foreign shareholder of a foreign-funded insurance company shall be a foreign insurance company or a foreign insurance group company.
The major shareholder refers to the shareholder with the largest shareholding ratio, and other shareholders who have significant influence on the company's operation and management as stipulated by laws, administrative regulations and the Bank of China Insurance Regulatory Commission (hereinafter referred to as China Banking and Insurance Regulatory Commission). The shareholding ratio of shareholders, their related parties and concerted parties shall be calculated together. Article 4 The major shareholders of a foreign-funded insurance company shall promise not to transfer their shares within five years from the date of becoming a shareholder, and state this in the articles of association of the foreign-funded insurance company.
Risk disposal is approved by CBRC, and transfer is ordered by CBRC according to law, which involves judicial enforcement or equity transfer between different entities controlled by the same controller, except in special circumstances. Article 5 Where a major shareholder of a foreign-funded insurance company intends to reduce its shares or withdraw from the China market, it shall fulfill its shareholder obligations and ensure that the solvency of the insurance company meets the regulatory requirements. Article 6 The registered capital or working capital of a foreign-funded insurance company shall be paid-in currency. Article 7 After the establishment of a branch of a foreign insurance company, the working capital shall not be withdrawn in any form. Article 8 The term "before application for establishment 1 year-end" as mentioned in Item 1 of Article 8 of the Regulations refers to the end of the fiscal year before the date of application. Article 9 Other prudential conditions mentioned in Item (5) of Article 8 of the Regulations shall at least include the following conditions:
(1) The corporate governance structure is reasonable;
(2) The risk management system is sound.
(3) The internal control system is sound;
(4) The management information system is effective;
(5) It is in good operating condition and has no record of major violations of laws and regulations. Article 10 Where an applicant cannot provide the business license (copy) required by Item 2 of Article 9 of the Regulations, he may provide a valid copy of the business license or a written certificate issued by the relevant competent authority that the applicant has the right to engage in insurance business. Article 11 The certificate of the competent authority of the country or region where the foreign applicant is located mentioned in Item (2) of Article 9 of the Regulations shall include one of the following contents:
(1) The solvency of the applicant meets the regulatory requirements of the country or region in the last fiscal year on the date when the certificate is issued by the relevant competent authority;
(2) In the last fiscal year on the date when the certificate is issued by the relevant competent authority, the applicant has no record that does not meet the solvency standards of the country or region. Article 12 The opinions of the competent authorities of the country or region where the foreign applicant is located mentioned in Item (2) of Article 9 of the Regulations shall include the following contents:
(1) Whether the applicant's application for establishing an insurance institution in China complies with the laws and regulations of that country or region;
(2) Whether the applicant's application is approved;
(three) the record of the punishment of the applicant in the first three years from the date when the relevant competent authorities issued their opinions. Article 13 The annual report mentioned in Item (3) of Article 9 of the Regulations shall include the balance sheet, profit and loss statement and cash flow statement of the applicant in the three fiscal years before the date of application.
The statements listed in the preceding paragraph shall be accompanied by an audit opinion issued by an accounting firm or audit firm recognized by the country or region where the applicant is located. Article 14 China applicants mentioned in Item (4) of Article 9 of the Regulations shall meet the requirements of the Measures for the Administration of Equity in Insurance Companies and other relevant provisions, unless otherwise provided by laws and administrative regulations or approved by the State Council. Article 15 The person in charge of the preparation of the proposed foreign-funded insurance company shall meet the following conditions:
(1) College degree or above;
(two) engaged in insurance or related work for more than 2 years;
(3) No criminal record. Article 16 Where an applicant applies for extending the preparatory period according to Article 11 of the Regulations, he shall submit a written application to the China Banking Regulatory Commission 65,438+0 months before the expiry of the preparatory period, and explain the reasons. Article 17 The preparation report referred to in Item 1 of Article 11 of the Regulations shall summarize the contents of other items in this article. Article 18 The statutory capital verification institution mentioned in Item (4) of Article 11 of the Regulations refers to an accounting firm that meets the requirements of the China Banking Regulatory Commission. Article 19 The capital verification certificate mentioned in Item (4) of Article 11 of the Regulations shall include the following contents:
(1) A capital verification report issued by a statutory capital verification institution;
(2) A copy of the original bank entry certificate of the registered capital or working capital. Article 20 The main person in charge mentioned in Item (5) of Article 11 of the Regulations refers to the general manager of the branch of a foreign insurance company to be established.
The power of attorney of the principal responsible person of a branch of a foreign insurance company refers to the power of attorney signed by the chairman or general manager of the foreign insurance company to the general manager of the branch of the foreign insurance company.
The power of attorney shall clearly record the scope of authority of the authorized person.