保险公司管理规定 Regulations on Administration of Insurance Companies

中国保险监督管理委员会令[2004]年第3号

颁布日期：20040513 　实施日期：20040615 　颁布单位：中国保险监督管理委员会

　　Chapter I General Provisions

　　Article 1

　　These regulations are formulated in accordance with the Insurance Law of the People's Republic of China （hereinafter referred to as “Insurance Law”） and the Company Law of the People's Republic of China （hereinafter referred to as “Company Law”）， for the purpose of strengthening the supervision and administration of insurance companies， maintaining a normal order in the insurance market， protecting the legitimate rights and interests of the insured， and promoting healthy development of the insurance sector.

　　Article 2

　　The China Insurance Regulatory Commission （hereinafter referred to as “CIRC”） is authorized by laws and the State Council to perform general supervision and administration over insurance companies.

　　The local branch offices of CIRC exercise functions and powers within the authorization scope of CIRC.

　　Article 3

　　An insurance company hereof refers to a legally registered commercial insurance company incorporated with the approval of insurance regulators.

　　Branches of an insurance company hereof refer to business operating institutions and marketing service institutions legally established by an insurance company， including branch companies， central sub-branch companies， sub-branch companies， sales departments， and sales service departments.

　　An insurance institution hereof refers to an insurance company or one of its branches.

　　Chapter II

　　Insurance Institutions

　　Section I

　　Establishment of Institutions

　　Article 4

　　Establishment of an insurance institution shall be approved by CIRC.

　　No entity or individual shall directly or indirectly operate commercial insurance business within the territory of People's Republic of China without CIRC's approval.

　　Article 5

　　Establishment of an insurance company shall comply with the following principles：

　　（1） Abiding by laws and regulations；

　　（2） In line with State macro-economic policies and insurance sector development strategies；

　　（3） In the interest of fair competition and healthy development of the insurance sector.

　　Article 6

　　Establishment of an insurance company shall satisfy the following requirements：

　　（1） The investors are qualified and the equity structure is reasonable；

　　（2） Articles of association are in accordance with Insurance Law and Company Law；

　　（3） Minimum registered capital is RMB 200 million of paid-up currency；

　　（4） Senior managerial personnel shall satisfy the duty qualifications stipulated by CIRC；

　　（5） The organization structure and governance system are complete and sound；

　　（6） Business sites and office facilities meet the needs of business development.

　　Article 7

　　To establish an insurance company， the applicant shall submit a written application to CIRC with the following documents in triplicate：

　　（1） Application letter for establishment， containing name， registered capital and scope of business of the proposed company， etc；

　　（2） Feasibility study report， including business development plan， draft articles of association， business management strategies， etc；

　　（3） Preparation plan；

　　（4） Investors' share subscriptions agreement and certificates of the approval of their boards of directors or of their regulatory authorities；

　　（5） Investors' business licenses or other background materials， balance sheet and profit and loss statements of the previous year audited by certified public accountants；

　　（6） Name list of the head（s） of the preparation team recognized by the investors， the proposed Chairman of the Board， the proposed General Manager， and the recognition c

ertificates of the people in the name list；

　　（7） Other documents and materials required by CIRC.

　　Article 8

　　CIRC shall review the establishment application of an insurance company and decide whether or not to grant approval within 6 months after receiving the complete application documents. If CIRC decides not to approve the application， it shall state reasons in a written document to the applicant.

　　Article 9

　　During the review period CIRC shall remind the investors of the investment risks of insurance business.

　　CIRC shall listen to the proposed chairman of the board and the proposed general manager on the company's market development strategy， business expansion plan and internal control system， and take these into the consideration of whether or not to approve.

　　Article 10

　　After an approval is granted， the applicant shall complete the preparation of establishing the insurance company within 1 year. If， for a justifiable reason， the deadline fails to be met， the preparation period may be extended by 3 months with the approval of CIRC. The approval document shall automatically become invalid if the extended deadline is still not observed.

　　The institution at the preparation stage shall not conduct any insurance business.

　　In principle， an insurance company shall not change its investors during the preparation period. In the event that　changes are made without the approval of CIRC， the original approval document shall automatically become invalid.

　　Article 11

　　After preparation has been completed， the applicant shall submit to CIRC an application for operation with the following materials in triplicate：

　　（1） Application letter for operation；

　　（2） Memorandum of the general founding meeting；

　　（3） Articles of association；

　　（4） Names of shareholders and the proportion of share they hold respectively， capital verification issued by an institution of sound credit standing， a copy of the original bank receipt voucher evidencing payment of the registered capital；

　　（5） Shareholders' business licenses or other background materials， and balance sheets and profit and loss statements of the previous year；

　　（6） Resumes or other relevant certifying materials of the proposed senior managerial personnel， setting of company departments and composition of the employees， resumes and other certificating materials of actuaries concerned；

　　（7） Certificates on ownership of or the right of using the business site；

　　（8） 3-year business blueprint and reinsurance plan；

　　（9） Plan of insurance products to be provided；

　　（10） Report on configuration of computing facilities and electronic network construction.

　　Article 12

　　CIRC shall decide whether or not to approve within 60 days after receiving the complete operation application documents. If CIRC decides to approve， it shall issue a license for conducting insurance business. If CIRC decides not to approve the application， it shall state reasons in a written document to the applicant.

　　The approved insurance company shall go through business registration formalities at the Administration for Industry and Commerce by presenting the approval document and license for conducting insurance business and accordingly obtain a business license from the authority before starting business.

　　Article 13

　　An insurance company may apply for establishing branches as needed according to business development.

　　An insurance company must establish a branch office to conduct business in any other province， autonomous region or municipality outside its locality. An insurance company may， in view of its practical needs， apply for establishing central sub-branch companies， sub-branch companies， sales departments or marketing service departments.

　　Article 14

　　An i

nsurance company established with the minimum capital， as stipulated in item （3）， Article6， shall add no less than RMB 20 million to its registered capital when applying for the first branch company in every other province， autonomous region， and municipality outside its locality.

　　When applying for establishment of a branch company， an insurance company need not increase its registered capital if it has already reached the amount stipulated in the preceding paragraph.

　　An insurance company， with a capital of no less than RMB 500 million and adequate solvency， need not increase the registered capital when applying for establishment of a branch company.

　　Article 15

　　An insurance company applying to set up a branch shall satisfy the following requirements：

　　（1） Solvency margin is in accordance with the regulations of CIRC；

　　（2） Internal control system is complete， sound， and without penalty records； no penalty records within the past 2 years for those companies with more than 2 years' operating history；

　　（3） Senior managerial personnel of a branch shall have the duty qualifications stipulated by CIRC.

　　Article 16

　　To establish a branch， an insurance company shall submit a written application to CIRC with the following documents in triplicate：

　　（1） Application letter for establishment；

　　（2） Audited reports on its solvency status at the end of the previous year and the end of the previous quarter；

　　（3） 3-year business development plan and market analysis for the branch to be established；

　　（4） Resume（s） or other relevant certificates of the person（s） in charge of the preparation for establishing the branch.

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