In order to cut off the business risks of property insurance companies and life insurance companies, a risk firewall is set up in insurance financial supervision to form an industry system, which is conducive to the safety of the entire insurance system.
2. Capital conditions. The actual monetary capital received by insurance companies offering insurance business nationwide is not less than 500 million yuan;
The paid-in monetary capital of an insurance company operating in a specific region is not less than 200 million yuan; Branches located in provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning shall have an operating capital of not less than 50 million yuan. After the establishment of an insurance company, it shall withdraw 20% of its total registered capital and deposit it in a bank designated by the China Insurance Regulatory Commission. Except for paying off debts during the liquidation period, the deposit shall not be used without the approval of the China Insurance Regulatory Commission.
3. Conditions of employees
(1) Qualifications. The targets of the insurance industry are all related to funds, which run very fast in the financial market, and a little carelessness may cause huge losses. Therefore, the senior managers of the insurance industry are required to have high quality and be able to adapt to the complex operation of the insurance industry and the high demand for capital security. The chairman, vice chairman, general manager, deputy general manager, director and deputy director of the office and business department of an insurance company shall meet the qualifications stipulated by the China Insurance Regulatory Commission, including certain financial professional qualifications and the basic conditions of necessary working years in the financial industry.
(2) it is forbidden to hold positions. According to Article 57 of the Company Law, one of the following circumstances shall not serve as a senior manager of an insurance company: a citizen without or with limited capacity for civil conduct; Being sentenced to punishment for committing crimes of corruption, bribery, misappropriation of property or disrupting social and economic order, or being deprived of political rights for committing crimes, and the execution period has not exceeded five years; Having served as a director, factory director or manager of a company or enterprise liquidated due to poor management, and being personally responsible for the bankruptcy of the company or enterprise, it has not been more than three years since the date of completion of the bankruptcy liquidation of the company or enterprise; Being the legal representative of a company or enterprise whose business license has been revoked according to law and having personal responsibility, and less than three years have passed since the date when the business license of the company or enterprise was revoked; A person who owes a large amount of debt and has not paid it off at maturity.
(3) the legal responsibility of the personnel who violate the post qualification. If an insurance company elects or appoints a director, supervisor or manager of the company in violation of Article 57 of the Company Law, the election, appointment or appointment is invalid, and whether it is a resolution of the shareholders' meeting or a resolution of the board of directors, it is an invalid company behavior.
4. Conditions for establishing a branch office
With the development of the market and corporate business, insurance companies can decide to expand the company scale and expand the regional scope of their business. An insurance company shall apply to the CIRC for the establishment of branches according to the growth of premium income. The general condition is that for every 6,543.8 billion yuan premium they increase, they can apply to set up a branch in the business area. If the premium income of a branch company increases by 50 million yuan, it may apply for establishing a branch company within its jurisdiction; Branches and subsidiaries may apply to set up offices within their jurisdictions for every increase of RMB 20 million in premium income.
5, the establishment, change and cancellation of the examination and approval procedures
Insurance companies are special companies engaged in financial business, and the examination and approval of the establishment, change and liquidation of insurance companies must be carried out by the China Insurance Regulatory Commission, the competent industry authority. Without the approval of the China Insurance Regulatory Commission, any actions of investors, promoters or shareholders related to the establishment, change or elimination of the company have no legal effect, and the resolutions of the shareholders' meeting and the board of directors related to the establishment, change or elimination of the company shall not contradict external liabilities, nor shall they deny the civil liabilities that the company should bear on the grounds of the resolutions of the shareholders' meeting and the board of directors. Especially when it comes to share liability and corporate liability, the shareholders and directors concerned cannot claim exemption from civil liability by implementing the resolutions of the shareholders' meeting or the board of directors of the company. The insurance supervision and administration institution shall, within 6 months from the date of receiving the formal application documents for the establishment of an insurance company, make a decision on approval or disapproval.
6. Submit the necessary documents
To apply for the establishment of an insurance company, the shareholders of a limited liability company or the promoters of a joint stock limited company shall submit to the company registration authority a series of documents stipulated by the Insurance Law and the CIRC, including an application for the establishment of an insurance limited liability company or a joint stock limited company, a certificate of registered capital and capital verification, an approval document on the company name and business scope, and a feasibility study report on the establishment of an insurance company and the corresponding insurance business; Other documents and materials required by China CIRC.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.