Measures for the Administration of Insurance Licenses Article 4 The following insurance institutions in People's Republic of China (PRC) shall obtain insurance licenses according to law:
(1) Insurance holding companies and insurance group companies engaged in insurance business;
(2) Insurance companies and their branches;
(3) Insurance asset management companies and their branches;
(4) Insurance agencies, insurance brokers, insurance assessment agencies and their branches;
(5) A concurrent insurance agency;
(6) Other insurance institutions as stipulated by the China Insurance Regulatory Commission.
Article 5 The insurance license mentioned in these Measures includes the following types:
(1) Insurance company legal person license and insurance business license;
(2) Insurance marketing service license;
(3) A license to operate insurance agency business;
(4) License to engage in insurance brokerage business;
(5) License to operate insurance assessment business;
(6) Insurance agency business license;
(seven) the legal person license of the insurance asset management company and the license to operate the insurance asset management business.
Article 6 Insurance licenses shall be uniformly designed and printed by China Insurance Regulatory Commission. Without the authorization of China CIRC, no other unit or individual may design, print, issue, collect or detain insurance licenses.
Article 7 The China Insurance Regulatory Commission (hereinafter referred to as the China Insurance Regulatory Commission) shall exercise hierarchical management over insurance licenses.
Article 8 The dispatched office of the China Insurance Regulatory Commission shall be responsible for the issuance and renewal of insurance licenses for the following institutions within its jurisdiction:
(1) branches of insurance companies;
(2) branches of insurance asset management companies;
(3) Insurance agencies and their branches;
(4) Insurance brokerage institutions and their branches;
(5) Insurance assessment institutions and their branches;
(6) Insurance agencies.
Article 9 An insurance license shall record the following contents:
(1) the name of the institution;
(2) Organization code;
(3) the domicile of the institution;
(4) The business scope of the institution;
(5) the geographical scope of the institution;
(six) the date of the decision of the administrative license;
(7) Date of issuance;
(8) Issuing authority.
The insurance license can only take effect if it is stamped with the seal of China Insurance Regulatory Commission.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.