Will the insurance company go bankrupt?

Legal analysis: Yes. Strictly speaking, insurance companies will go bankrupt, but the relevant laws of our country clearly stipulate that insurance companies are not allowed to go bankrupt and be dissolved. If due to poor management, the CIRC has the right to stop the business of this insurance company, and can apply for re-operation if the funds are sufficient to support the insurance company to re-operate. In addition, if the court declares bankruptcy, China Banking and Insurance Regulatory Commission, China has the right to designate other insurance companies for escrow, and handle the follow-up claims, surrender and preservation of existing policies.

Legal basis: Article 89 of the Insurance Law of People's Republic of China (PRC), an insurance company needs to be dissolved due to division or merger, or the shareholders' meeting or the shareholders' general meeting decides to dissolve, or the reasons for dissolution stipulated in the articles of association appear, and it is dissolved after being approved by the insurance regulatory authority of the State Council. An insurance company engaged in life insurance business shall not be dissolved except for division, merger or cancellation according to law. When an insurance company is dissolved, a liquidation group shall be established according to law for liquidation.