中华人民共和国外资保险公司管理条例 PRC, Administration of Foreign-funded Insurance Companies Regulations

国务院令第336号
(Promulgated by the State Council on 12 December 2001 and effective as of 1 February 2002.)
颁布日期：20011212 　实施日期：20020201 　颁布单位：国务院

　　PART ONE　GENERAL PROVISIONS

　　Article 1　These Regulations are formulated to suit the requirements for opening up and economic development, to strengthen and perfect the supervision and administration of foreign-funded insurance companies, and to promote the healthy development of the insurance industry.

　　Article 2　Foreign-funded insurance companies as referred to in these Regulations shall be the following types of insurance companies approved for establishment and operation within China in accordance with the relevant laws and administrative regulations of the PRC:

　　1. equity joint venture insurance companies within China between foreign insurance companies and Chinese insurance companies or enterprises (Equity Joint Venture Insurance Companies);

　　2. foreign capital insurance companies invested in and operated within China by foreign insurance companies (Wholly Foreign-owned Insurance Companies); and

　　3. branches within China of foreign insurance companies (Foreign Insurance Company Branches).

　　Article 3　Foreign-funded insurance companies must abide by the laws and regulations of China and shall not harm the public interest of Chinese society.

　　The proper business activities and lawful rights and interests of foreign-funded insurance companies shall be protected under Chinese law.

　　Article 4　The China Insurance Regulatory Committee (the CIRC) shall be responsible for the supervision and administration of foreign-funded insurance companies. Agencies of the CIRC shall implement day-to-day supervision and administration of foreign-funded insurance companies within the area under their control in accordance with the authority given them by the CIRC.

　　PART TWO　ESTABLISHMENT AND REGISTRATION

　　Article 5　The establishment of foreign-funded insurance companies shall be approved by the CIRC.

　　The areas in which foreign-funded insurance companies are established shall be determined by the CIRC in accordance with the relevant provisions.

　　Article 6　The form of and ratio of foreign capital in foreign-funded insurance companies engaging in personal accident insurance or in property insurance shall be determined by the CIRC in accordance with the relevant provisions.

　　Article 7　The minimum registered capital of Equity Joint Venture Insurance Companies and Wholly Foreign-owned Insurance Companies shall be Rmb 200 million or the equivalent in freely convertible currency. The minimum registered capital must be fully paid-up capital. Capital contributions from foreign insurance companies shall be in freely convertible currency.

　　Foreign Insurance Company Branches shall be allocated, without consideration by their parent companies, operating capital of not less than the equivalent of Rmb 200 million in freely convertible currency.

　　The CIRC may increase the minimum registered capital or operating capital as stipulated in the previous two paragraphs in accordance with the scope of business and scale of operations of foreign-funded insurance companies.

　　Article 8　Foreign insurance companies applying to establish a foreign-funded insurance company shall fulfil the following criteria:

　　1. they shall have been in the insurance business for at least 30 years;

　　2. they shall have had a representative organization within China for at least two years;

　　3. they shall have total year-end assets of not less than US$5 billion in the year before the application;

　　4. their country or region of origin shall have a good system of insurance regulation and the foreign insurance company shall have been subject to effective regulation by the relevant authorities in their country or region of origin;

　　5.

they shall have compensation capability in accordance with the standards of their country or region of origin;

　　6. the relevant authorities in their country or region of origin shall agree to the application; and

　　7. other prudential criteria formulated by the CIRC.

　　Article 9　The applicant shall submit an application in writing to the CIRC for establishment of foreign-funded insurance companies and shall provide the following materials:

　　1. a written application signed by the applicant's statutory representative; in the case of Equity Joint Venture Insurance Companies the written application shall be signed by the statutory representatives of all the parties concerned;

　　2. the business licence (a copy), certification that the company's compensation capability fulfils the criteria, and a written opinion on the application issued by the relevant authorities in the foreign applicant's country or region of origin;

　　3. the foreign applicant's articles of association and annual reports for the last three years;

　　4. relevant materials from the Chinese applicant in the case of Equity Joint Venture Insurance Companies;

　　5. feasibility study and preparatory plan for setting up the company;

　　6. name list, résumé and proof of qualifications of those responsible for preparing to establish the company; and

　　7. other materials that the CIRC stipulates shall be provided.

　　Article 10　The CIRC shall conduct an initial examination of applications to establish foreign-funded insurance companies and shall decide whether or not to accept the application within six months of receiving all the application documents. If an application is accepted it shall issue a formal application form; if an application is not accepted it shall inform the applicant of the reasons for this in writing.

　　Article 11　Applicants shall complete preparatory work within one year of receiving the formal application form. Those unable for good reason to complete this work within the stipulated period can extend by three months with the approval of the CIRC. If preparatory work is still not completed within the extended period, the CIRC's decision to accept the application shall automatically become invalid. Once preparatory work is complete the applicant shall submit the completed application form and the following documents to the CIRC for examination and approval:

　　1. the preparation report;

　　2. the articles of association for the company to be established;

　　3. information on the capital contributors and the amount of capital they are contributing to the company to be established;

　　4. capital verification certificate issued by the statutory capital verification authority;

　　5. the authorization letters held by the proposed principal officials of the company to be established;

　　6. name list, résumé and proof of qualification for the senior managers in the company to be established;

　　7. business plan and reinsurance plan for the next three years for the company to be established;

　　8. explanation of calculation of insurance clauses, premiums and liability reserves for the types of insurance to be conducted within China;

　　9. materials on the place of business of the company to be established and on other facilities related to its business;

　　10. in the case of Foreign Insurance Company Branches, a guarantee from the parent company that it will be liable for the branch's taxes and debts;

　　11. the joint venture contract in the case of Equity Joint Venture Insurance Companies; and

　　12. other documents as stipulated by the CIRC.

　　Article 12　The CIRC shall decide whether or not to issue approval within 60 days of receiving all the formal application documents for setting up a foreign-funded insurance company. If approval is given it shall issue an insurance busin

ess permit; if it is not given it shall notify the applicant in writing of the reasons.

　　Applicants given approval to establish a foreign-funded insurance company shall submit the insurance business permit to the administration authority for industry and commerce, undergo registration and draw a business licence.

　　Article 13　Once a foreign-funded insurance company is established, it shall deposit 20% of its registered capital or operating capital as a security deposit in a bank designated by the CIRC. The security deposit shall not be used except to discharge debts if the foreign-funded insurance company goes into liquidation.

　　Article 14　The setting up of branches within China by foreign-funded insurance companies shall be examined and approved by the CIRC in accordance with the relevant regulations.

　　PART THREE　SCOPE OF BUSINESS

　　Article 15　Foreign-funded insurance companies may legally engage in all or some of the following types of insurance business in accordance with the scope of business stipulated by the CIRC:

　　1. property insurance, including damage insurance, liability insurance and fidelity insurance; and

　　2. personal accident insurance, including life insurance, medical insurance and accident insurance.

　　Foreign-funded insurance companies may, within their stipulated scope of business, engage in large-scale commercial insurance business and master policy insurance business with the approval of the CIRC in accordance with the relevant regulations.

　　Article 16　One foreign-funded insurance company shall not simultaneously engage in property and personal accident insurance business.

　　Article 17　Foreign-funded insurance companies may legally engage in the following reinsurance b

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