保险公司管理规定

发布日期: 2008-09-17


 

第一章

 

  第一条为了加强对保险公司的监督管理,维护保险市场的正常秩序,保护被保险人的合法权益,促进保险业健康发展,根据《中华人民共和国保险法》(以下简称《保险法》)、《中华人民共和国公司法》(以下简称《公司法》)等法律、行政法规,制定本规定。

 

  第二条中国保险监督管理委员会(以下简称中国保监会)根据法律和国务院授权,对保险公司实行统一监督管理。

 

  中国保监会的派出机构,在中国保监会授权范围内行使职权。

 

  第三条本规定所称保险公司,是指经保险监督管理机构批准设立,并依法登记注册的商业保险公司。

 

  本规定所称保险公司的分支机构,是指保险公司依法设立的营业性机构和营销服务机构,包括分公司、中心支公司、支公司、营业部和营销服务部。

 

  本规定所称保险机构,是指保险公司及其分支机构。

 

 第二章保险机构

 

 第一节机构设立

 

  第四条设立保险机构应当经中国保监会批准。

 

  未经中国保监会批准,任何单位、个人不得在中华人民共和国境内经营或者变相经营商业保险业务。

 

  第五条设立保险公司,应当遵循下列原则:

 

  (一)遵守法律、行政法规;

 

  (二)符合国家宏观经济政策和保险业发展战略;

 

  (三)有利于保险业的公平竞争和健康发展。

 

  第六条设立保险公司应当具备下列条件:

 

  (一)具有合格的投资者,股权结构合理;

 

  (二)章程符合《保险法》和《公司法》的规定;

 

  (三)注册资本最低限额为人民币2亿元,注册资本应当为实缴货币资本;

 

  (四)高级管理人员应当符合中国保监会规定的任职资格条件;

 

  (五)具有健全的组织机构和管理制度;

 

  (六)具有与其业务发展相适应的营业场所、办公设备。

 

  第七条设立保险公司,申请人应当向中国保监会提出书面申请,并提交下列材料一式三份:

 

  (一)设立申请书,其中应当载明拟设公司的名称、注册资本、业务范围等;

 

  (二)可行性报告,其中应当包括业务发展规划、公司章程草案和经营管理策略等;

 

  (三)筹建方案;

 

  (四)投资人股份认购协议书及其董事会或者主管机关同意其投资的证明材料;

 

  (五)投资人的营业执照或者其他背景资料,上一年度的经注册会计师审计的资产负债表、损益表;

 

  (六)投资人认可的筹备组负责人和拟任公司董事长、总经理名单及本人认可证明;

 

  (七)中国保监会规定提交的其他材料。

 

  第八条中国保监会应当对设立保险公司的申请进行审查,自收到完整的申请材料之日起6个月内作出批准或者不批准筹建的决定。决定不批准的,应当书面通知申请人并说明理由。

 

  第九条中国保监会在对设立保险公司的申请进行审查期间,应当对投资人进行投资保险业的风险提示教育。

 

  中国保监会应当听取拟任董事长、总经理对拟设公司市场发展战略、业务发展规划、内控制度建设等方面的工作思路,并将其作为是否批准筹建的参考。

 

  第十条申请人经中国保监会批准筹建保险公司的,应当在1年内完成筹建工作。在规定期限内未完成筹建工作,有正当理由的,经中国保监会批准,筹建期可延长3个月。在延长期内仍未完成筹建工作的,中国保监会作出的原批准筹建文件自动失效。

 

  筹建机构不得从事任何保险业务经营活动。

 

  筹建期间原则上不得变更投资人。未经批准变更投资人的,原批准筹建文件自动失效。

 

  第十一条筹建工作完成后,申请人应当向中国保监会提出开业申请,并提交下列材料一式三份:

 

  (一)开业申请书;

 

  (二)创立大会的会议记录;

 

  (三)公司章程;

 

  (四)股东名称及其所持股份比例,资信良好的验资机构出具的验资证明,资本金入账原始凭证复印件;

 

  (五)股东的营业执照或者其他背景资料,上一年度的资产负债表、损益表;

 

  (六)拟任该公司高级管理人员简历及有关证明材料,公司部门设置及人员基本构成情况,公司精算师的简历及有关证明材料;

 

  (七)营业场所所有权或者使用权的证明文件;

 

  (八)3年经营规划和再保险计划;

 

  (九)拟经营保险险种的计划书;

 

  (十)计算机设备配置和网络建设情况的报告。

 

  第十二条中国保监会应当自收到完整的开业申请文件之日起60日内,作出核准或者不予核准的决定。决定核准的,颁发经营保险业务许可证;决定不予核准的,应当书面通知申请人并说明理由。

 

  经核准开业的保险公司,应当持核准文件及保险许可证,向工商行政管理部门办理登记注册手续,领取营业执照后方可营业。

 

  第十三条保险公司可以根据业务发展需要申请设立分支机构。

 

  保险公司在其住所地以外的各省、自治区、直辖市开展业务,应当设立分公司。中心支公司、支公司、营业部或者营销服务部,由保险公司根据实际情况申请设立。

 

  保险公司营销服务部的设立和管理,中国保监会另有规定的,适用其规定。

 

  第十四条保险公司以本规定第六条第(三)项规定的最低资本金额设立的,在其住所地以外的每一省、自治区、直辖市首次申请设立分公司,应当增加不少于人民币2千万元的注册资本。

 

  申请设立分公司时,保险公司注册资本已达到前款规定的增资后额度的,可以不再增加相应的注册资本。

 

  保险公司注册资本达到人民币5亿元,在偿付能力充足的情况下,设立分公司不需要增加注册资本。

 

  第十五条保险公司申请设立分支机构,应当具备下列条件:

 

  (一)偿付能力额度符合中国保监会有关规定;

 

  (二)内控制度健全,无受处罚的记录;经营期限超过2年的,最近2年内无受处罚的记录;

 

  (三)具有符合中国保监会规定任职资格条件的分支机构高级管理人员。

 

  第十六条设立分支机构,应当由保险公司向中国保监会提出申请,并提交下列材料一式三份:

 

  (一)设立申请书;

 

  (二)上一年度末和最近季度末经审计的偿付能力状况报告;

 

  (三)拟设机构3年业务发展规划和市场分析;

 

  (四)拟设机构筹建负责人的简历及相关证明材料。

 

  第十七条中国保监会应当对设立分支机构的申请进行审查,自收到完整的申请材料之日起20日内作出批准或者不批准筹建的决定。决定不批准的,应当书面通知申请人并说明理由。

 

  申请被批准后,申请人应当在6个月内完成分支机构的筹建。在规定期限内未完成筹建工作,有正当理由的,经中国保监会批准,筹建期可延长3个月。在延长期内仍未完成筹建工作的,中国保监会作出的原批准文件自动失效。

 

  筹建机构不得从事任何保险业务经营活动。

 

  第十八条分支机构筹建工作完成后,申请人应当向中国保监会提出开业申请,并提交下列材料一式三份:

 

  (一)开业申请书;

 

  (二)筹建工作完成情况报告;

 

  (三)拟任高级管理人员简历及有关证明;

 

  (四)拟设机构办公场所所有权或者使用权的有关证明,计算机设备配置及网络建设情况,内部机构设置及从业人员情况等。

 

  第十九条中国保监会应当自收到设立分支机构完整的开业申请文件之日起20日内,作出核准或者不予核准的决定。决定核准的,颁发分支机构经营保险业务许可证;决定不予核准的,应当书面通知申请人并说明理由。

 

  经核准开业的保险公司分支机构,应当持核准文件及保险许可证,向工商行政管理部门办理登记注册手续,领取营业执照后方可营业。

 

  第二十条保险机构高级管理人员的任职资格审核与管理,按照中国保监会的有关规定执行。   

 

  第二十一条保险公司在境内设立代表处,应当经中国保监会核准。代表处不得从事保险经营活动。

 

  第二十二条保险公司在境外设立经营机构或者代表处,应当经中国保监会批准。

 

 第二节机构变更

 

  第二十三条保险公司下列变更事项,应当报中国保监会批准:

 

  (一)改变组织形式;

 

  (二)变更注册资本;

 

  (三)分立、合并;

 

  (四)变更出资人或者持有公司股份10%以上(含10%)的股东;

 

  (五)撤销分支机构。

 

  第二十四条保险公司下列变更事项,应当报中国保监会核准:

 

  (一)变更公司名称;

 

  (二)修改章程;

 

  (三)调整业务范围;

 

  (四)变更住所。

 

  第二十五条保险公司下列变更事项,应当报中国保监会备案:

 

  (一)变更持有公司股份10%以下的股东,上市保险公司的股东变更除外;

 

  (二)分支机构变更营业场所。

 

  第二十六条保险机构下列变更事项,应当自发生之日起15日内向中国保监会书面报告:

 

  (一)保险公司的股东变更名称,上市保险公司的股东除外;

 

  (二)保险公司分支机构合并、变更名称。

 

  第二十七条保险公司撤销分支机构,应当向中国保监会说明理由,并提交该机构业务后续处理方案。

 

  保险公司合并、撤销分支机构的,应当进行公告,并书面通知有关投保人、被保险人或者受益人,对交付保险费、领取保险金等事宜充分告知。

 

  保险公司撤销分支机构的,自获得批准之日起其保险许可证自动失效,并应当于15日内上缴。

 

  第二十八条保险机构发生涉及保险许可证记载内容的变更事项,应当持有关文件和保险许可证,自获得批准、核准、备案或者报告之日起1个月内到发证机关更换其许可证。

 

第三节保险许可证

 

  第二十九条本规定所称保险许可证,是指保险公司或者其分支机构经营保险业务许可证。

 

  保险许可证是中国保监会依法颁发的准许保险机构经营保险业务的法律文件,是保险机构依法经营保险业务的证明。

 

  第三十条中国保监会依法统一设计、印制、发放、扣缴、收缴或者吊销保险许可证。

 

  保险机构不得伪造、涂改、出租、出借、转让保险许可证。

 

  第三十一条保险机构应当将保险许可证放置于营业场所显著位置,以备查验。

 

  第三十二条保险许可证如有丢失,应当自发现之日起10日内在中国保监会指定的报纸上声明作废,并同时向发证机关说明情况,重新申领。

 

第四节终止与清算

 

  第三十三条保险公司解散的,应当成立清算组。清算工作由中国保监会监督指导。

 

  保险公司依法被撤销,由中国保监会及时组织股东、有关部门及有关专业人士成立清算组。

 

  保险公司被依法宣告破产的,由人民法院依法组织清算组。

 

  第三十四条清算组应当自成立之日起10日内通知债权人,并于60日内在中国保监会指定的报纸上至少公告3次。公告内容应当经中国保监会核准。

 

  清算组应当委托资信良好的会计师事务所、律师事务所,对公司债权债务和资产进行评估。  

 

  第三十五条保险公司根据章程或者股东大会决议解散,应当经中国保监会批准,并报送下列材料一式三份:

 

  (一)解散申请书;

 

  (二)股东会决议;

 

  (三)清算组织及其负责人;

 

  (四)清算程序;

 

  (五)债权债务安排方案;

 

  (六)资产分配计划和资产处分方案;

 

  (七)中国保监会规定提交的其他材料。

 

  第三十六条保险公司解散或者依法被撤销的,应当立即停止接受新业务,并上缴保险许可证。

 

  第三十七条保险公司解散或者依法被撤销的,其资产处分应当采取公开拍卖、协议转让或者中国保监会认可的其他方式。

 

  第三十八条保险公司解散、依法被撤销或者被依法宣告破产,保险合同转让方案应当报中国保监会批准。

 

  第三十九条保险公司解散,在保险合同责任清算完毕之前,公司股东不得分配公司资产,或者从公司取得任何利益。

 

  第四十条保险公司解散,在清算中发现已资不抵债的,应当提出破产申请,其财产清算与债权债务处理,按照法定破产程序进行。

 

第五节向保险公司投资

 

  第四十一条企业法人或者法律、行政法规许可的其他组织可以向保险公司投资入股。

 

  第四十二条向保险公司投资入股的企业法人应当符合下列条件:

 

  (一)符合法律、行政法规的规定;

 

  (二)投资资金来源合法,且经营状况良好;

 

  (三)中国保监会基于审慎监管原则规定的其他条件。

 

  第四十三条除中国保监会批准的保险控股公司或者保险公司外,单个企业法人或者其他组织(包括其关联方)投资保险公司的,持有的股份不得超过保险公司股份总额的20%

 

  第四十四条保险公司股东之间具有关联关系的,保险公司应当向中国保监会书面报告。

 

  第四十五条符合本规定第四十二条规定条件的境外金融机构,经中国保监会批准,可以向保险公司投资入股。全部境外股东参股比例应当低于保险公司股份总额的25%。全部境外股东投资比例占保险公司股份总额25%以上的,适用外资保险公司管理的有关规定。

 

  境外股东投资上市保险公司的,不受前款规定的限制。

 

  第四十六条保险公司在境内公开发行股票上市的,应当遵守本规定第四十三条有关股东投资比例限制的规定。

 

第三章保险经营

 

  第四十七条经中国保监会核定,财产保险公司可以经营下列全部或者部分保险业务:

 

  (一)财产损失保险;

 

  (二)责任保险;

 

  (三)法定责任保险;

 

  (四)信用保险和保证保险;

 

  (五)农业保险;

 

  (六)其他财产保险业务;

 

  (七)短期健康保险和意外伤害保险;

 

  (八)上述保险业务的再保险业务。

 

  第四十八条经中国保监会核定,人寿保险公司可以经营下列全部或者部分保险业务:

 

  (一)意外伤害保险;

 

  (二)健康保险;

 

  (三)传统人寿保险;

 

  (四)人寿保险新型产品;

 

  (五)传统年金保险;

 

  (六)年金新型产品;

 

  (七)其他人身保险业务;

 

  (八)上述保险业务的再保险业务。

 

  第四十九条保险公司申请扩大业务经营范围的,其注册资本、偿付能力等应当符合中国保监会的有关规定。

 

  第五十条保险机构经营外汇保险业务,应当遵守中国保监会和国家外汇管理部门有关外汇保险业务管理的规定。

 

  第五十一条除本规定第五十二条规定的情形外,保险公司的分支机构不得跨省、自治区、直辖市经营保险业务。

 

  第五十二条保险机构参与共保、经营大型商业保险或者统括保单业务以及通过互联网等方式跨省、自治区、直辖市承保业务,应当符合中国保监会的有关规定。

 

  第五十三条保险公司应当依法确定保险业务的自留保险费,确定每一危险单位可能造成损失的自留责任;超过法定限额的部分,应当办理再保险。

 

  第五十四条保险公司需要办理再保险分出业务的,在同等条件下,应当优先向中国境内的保险公司分保。

 

  第五十五条保险机构不得以任何方式强制或者变相强制投保人投保。

 

  第五十六条保险机构不得委托非法的保险代理人为其展业;不得接受非法的保险经纪人介绍的保险业务;不得向任何非法的保险代理人或者保险经纪人支付手续费、佣金或者类似的费用。

 

  第五十七条保险机构不得捏造、散布虚伪事实,损害其他保险机构的信誉。

 

  第五十八条保险机构不得劝说诱导投保人或者被保险人解除与其他保险机构的保险合同。

 

  第五十九条保险机构不得利用政府及其所属部门、垄断性企业或者组织,排挤、阻碍其他保险机构开展保险业务。

 

  第六十条保险机构不得向投保人、被保险人、受益人或者其利害关系人提供或者承诺提供保险费回扣或者违法、违规的其他利益。

 

  第六十一条保险机构应当设立专门的客户服务部门或者咨询投诉部门,并向社会公开咨询投诉电话。

 

  保险机构对于投保人、被保险人或者受益人的保险投诉,应当认真处理,并将处理意见及时告知投诉人。

 

  第六十二条保险机构的保险业务宣传资料应当客观、完整、真实,并应当载有保险机构的名称、地址以及咨询投诉电话。

 

  第六十三条保险广告或者业务宣传资料不得预测公司的盈利以及保单分红、利差返还等不确定的保单利益。

 

  保险机构不得利用广告宣传或者其他方式,对其保险条款内容、服务质量等做引人误解的宣传。

 

  第六十四条保险机构对保险合同中的除外责任或者责任免除、退保及其他费用扣除、现金价值、犹豫期等事项应当采取明确的方式特别提示。

 

  保险机构不得将其保险条款、保险费率与其他保险公司的类似保险条款、保险费率或者金融机构的存款利率等进行片面比较。

 

  第六十五条保险机构应当对其保险代理人的业务代理行为进行监督管理,发现保险代理人有违法、违规行为的,应当立即予以制止或者纠正。

 

  保险机构对其保险代理人在展业过程中出现的虚假陈述、误导等损害被保险人利益的行为,依法承担责任。

 

  第六十六条保险公司应当建立控制和管理关联交易的相关制度。保险公司的重大关联交易应当按照规定于发生后15日内向中国保监会报告。

 

  前款规定的关联交易是指保险公司与其关联方之间的下列交易活动:

 

  (一)再保险分出或者分入业务;

 

  (二)资产管理、担保和代理业务;

 

  (三)固定资产买卖或者债权债务转移。

 

  与保险公司有下列关系之一的企业,视为与保险公司有关联关系:

 

  (一)在股份、出资方面存在控制关系;

 

  (二)在股份、出资方面同为第三人所控制;

 

  (三)为保险公司高级管理人员或者与其关系密切的家庭成员直接控制。

 

  保险公司高级管理人员或者与其关系密切的家庭成员,视为与保险公司有关联关系。

 

  第六十七条保险公司应当建立健全公司治理结构,加强内部管理,建立严格的内部控制制度。

 

  第六十八条拟上市的保险公司,应当取得中国保监会出具的监管意见书。

 

第四章保险条款和保险费率

 

  第六十九条保险公司使用的保险条款和保险费率应当依法报经中国保监会审批或者备案。

 

  第七十条下列保险险种的保险条款和保险费率应当报经中国保监会审批:  

 

  (一)依法实行强制保险的险种;

 

  (二)新开发的人寿保险险种;

 

  (三)中国保监会认定的其他关系社会公众利益的险种。

 

  保险险种的审批目录由中国保监会制定和调整。

 

  第七十一条除前条规定外,保险公司使用的其他险种的保险条款和保险费率,应当报中国保监会备案。

 

  第七十二条中国保监会在对保险条款和保险费率进行审批或者备案时,遵循保护社会公众利益和防止不正当竞争的原则。

 

  有下列情形之一的,中国保监会可以要求保险公司对保险条款和保险费率进行修改,也可以责令保险公司停止使用:

 

  (一)违反法律、行政法规或者中国保监会的禁止性规定;

 

  (二)违反国家有关财政金融政策;

 

  (三)损害社会公共利益;

 

  (四)内容显失公平或者形成价格垄断,侵害投保人、被保险人或者受益人的合法权益;

 

  (五)条款设计或者厘定费率、预定利率不当,可能危及保险公司偿付能力;

 

  (六)中国保监会基于审慎监管原则认定的其他事由。

 

  第七十三条保险公司对已经获得批准或者备案的保险条款和保险费率进行变更的,应当按照规定重新申报审批或者备案。

 

  保险公司在订立具体保险合同时,可以就特定事项与当事人订立补充协议,但是不得具有前条第二款第(一)至(六)项规定的情形。

 

  第七十四条保险公司拟订的长期人身保险条款保单预定利率等定价因素,应当符合中国保监会的有关规定。

 

  第七十五条保险公司应当积极开发适应社会需求的保险产品,努力进行产品和服务创新。

 

  保险公司使用的保险条款和保险费率所采用的语言应当通俗易懂、明确清楚,便于理解。

 

  第七十六条保险行业协会可以颁布财产保险或者人身保险条款示范文本。

 

  保险行业协会可以根据实际情况,公布指导性保险费率。

 

第五章保险资金及保险公司偿付能力

 

  第七十七条保险公司应当依法提取保证金。除清算时依法用于清偿债务外,保险公司不得擅自动用或处置保证金。

 

  第七十八条保险公司应当依法提取保险保障基金。保险保障基金依据中国保监会有关规定集中管理,统筹使用。

 

  第七十九条保险公司应当根据中国保监会有关规定提取各项保险责任准备金。保险公司提取的各项责任准备金必须真实、充足。

 

  第八十条保险资金运用方式限于:

 

  (一)银行存款;

 

  (二)买卖政府债券;

 

  (三)买卖金融债券;

 

  (四)买卖企业债券;

 

  (五)买卖证券投资基金;

 

  (六)国务院规定的其他资金运用方式。

 

  保险公司运用保险资金投资的具体方式、具体品种的比例以及认定的最低评级,应当符合中国保监会有关规定。

 

  第八十一条保险公司在境外的资金运用,应当符合国家有关规定。

 

  第八十二条保险公司可以设立保险资产管理公司;可以委托保险资产管理公司运用保险资金。

 

  第八十三条保险公司应当根据保护被保险人利益、保障偿付能力的原则,稳健经营,确保实际偿付能力额度任何时点不低于最低偿付能力额度。

 

  第八十四条保险公司的实际偿付能力额度为认可资产减去认可负债的差额。

 

  认可资产和认可负债的确认、计量和报告应当符合中国保监会有关规定。

 

  第八十五条保险公司最低偿付能力额度标准由中国保监会规定和调整。

 

  第八十六条保险公司实际偿付能力额度低于最低偿付能力额度的,应当采取有效措施,改善偿付能力状况,并将其有关整改方案、具体措施和到期成效等情况向中国保监会报告。

 

  第八十七条保险公司偿付能力充足率等于实际偿付能力额度除以最低偿付能力额度。对偿付能力充足率小于100%的保险公司,中国保监会可以将该公司列为重点监管对象,根据具体情况采取下列监管措施:

 

  (一)对偿付能力充足率在70%以上的公司,中国保监会可以要求公司提出整改方案并限期达到最低偿付能力额度要求;逾期仍未达到要求的,可以采取要求公司增加资本,责令办理再保险、限制业务范围、限制向股东分红、限制固定资产购置、限制经营费用规模、限制增设分支机构等监管措施,直至其达到最低偿付能力额度要求。

 

  (二)对偿付能力充足率在30%70%之间的公司,中国保监会除采取前项措施外,还可以责令其拍卖不良资产、转让保险业务、限制高级管理人员薪酬水平和在职消费水平、限制公司商业性广告、调整资金运用、停止开展新业务等监管措施。

 

  (三)对偿付能力充足率在30%以下的公司,中国保监会除采取前项措施外,可以对该保险公司依法实行接管。

 

第六章监督检查

 

  第八十八条中国保监会对保险公司的监督管理,遵循偿付能力监管和市场行为监管相结合的原则。

 

  保险公司应当依法接受中国保监会的监督管理。

 

  第八十九条中国保监会对保险机构的监督管理,采取现场监管与非现场监管相结合的方式。

 

  第九十条保险机构有下列情形之一的,中国保监会可以将其列为重点检查对象:

 

  (一)严重违法、违规;

 

  (二)偿付能力不足;

 

  (三)财务状况异常;

 

  (四)提供虚假的报告、报表、文件和资料;

 

  (五)中国保监会认为需要重点检查的其他情形。

 

  第九十一条中国保监会对保险机构的现场检查包括下列全部或者部分事项:

 

  (一)机构设立或者变更事项的审批或者报备手续是否完备;

 

  (二)申报材料的内容与实际情况是否相符;

 

  (三)资本金、各项准备金是否真实、充足;

 

  (四)偿付能力是否充足;

 

  (五)资金运用是否合法;

 

  (六)业务经营和财务情况是否良好,报表是否齐全、真实;

 

  (七)是否按规定对使用的保险条款和保险费率报请审批或者备案;

 

  (八)与保险中介的业务往来是否合法合规;

 

  (九)高级管理人员的任用或者变更手续是否完备;

 

  (十)需要事后报告的事项是否及时报告;

 

  (十一)中国保监会认为需要检查的其他事项。   

 

  第九十二条中国保监会对保险机构进行现场检查,保险机构应当予以配合,并按中国保监会要求提供有关文件、材料。

 

  第九十三条中国保监会工作人员进行现场检查时,检查人员不得少于2人,并应当出示有关证件和检查通知书。中国保监会委托会计师事务所等社会中介机构代其检查时,应当采用书面委托的形式。

 

  第九十四条保险机构应当按照规定及时向中国保监会报送营业报告、精算报告、财务会计报告、偿付能力报告和有关监管报表。

 

  第九十五条保险机构向中国保监会报送的各类报表、报告应当完整、真实、准确。

 

  第九十六条保险公司的营业报告、财务会计报告、偿付能力报告和有关报表应当由公司法定代表人或者总经理签名,年度财务报告和偿付能力报告还应当经注册会计师审计。保险公司的精算报告应当由中国保监会认可的精算人员签名。保险公司分支机构的报告和报表应当由机构负责人签名和分支机构签章。

 

  第九十七条保险公司的股东会、董事会的重大决议,应当于决议作出后30日内向中国保监会报告。

 

  第九十八条中国保监会根据监管职责的需要,可以对保险机构的高级管理人员进行监管谈话或者质询,要求其就保险业务经营活动和风险管理的重大事项作出说明。

 

  第九十九条保险机构或者其工作人员违反本规定,由中国保监会给予警告,责令改正,并根据有关法律、行政法规给予行政处罚;涉嫌犯罪的,依法移交司法机关追究其刑事责任。

 

第七章

 

  第一百条外资保险公司、再保险公司适用本规定;法律、行政法规或者中国保监会另有规定的,适用其规定。

 

  第一百零一条出口信用保险等政策性保险公司,在国家有关规定颁布以前,比照适用本规定。

 

  第一百零二条保险机构向中国保监会报送的各项报表、材料,应当用中文书写。原件为外文的,应当附中文译本;中文与外文意思不一致的,以中文表述为准。

 

  第一百零三条本规定中的有关期限,除以年、月表示的以外,均以工作日计算,不含法定节假日。

 

  第一百零四条本规定由中国保监会解释。

 

  第一百零五条本规定自2004615日起施行。中国保监会200013日发布的《保险公司管理规定》(保监发[2000]2号)以及2002315日发布的《关于修改〈保险公司管理规定〉有关条文的决定》(保监会令[2002]3号)同时废止。

 

 Chapter I General Provisions

Article 1 For the purpose of strengthening the supervision and administration of the insurance companies, maintaining the normal order of the insurance market, protecting the lawful rights and interests of the insured and promoting the healthy development of the insurance industry, the present Provisions are formulated according to the Insurance Law of the People’s Republic China (hereinafter referred to as the Insurance Law), the Company Law of the People’s Republic of China (hereinafter referred to as the Company Law) and other relevant laws and regulations.

 

Article 2 The China Insurance Regulatory Commission (hereinafter referred to as the CIRC) shall carry out unified supervision and administration over the insurance companies according to law and the authorization of the State Council. The institutions designated by the CIRC shall perform the functions as authorized by the CIRC.

 

Article 3 The term "insurance companies" as mentioned in the present Provisions refers to the commercial insurance companies established upon approval of the insurance regulatory institution and registered in accordance with the law. The term "branches of insurance companies" as mentioned in the present Provisions refers to the business operation institutions and business service institutions lawfully established by the insurance companies, including their branch companies, central sub-branches, sub-branches, business departments and distribution and service departments.

 

Chapter II Insurance Institutions

 

Section 1 Establishment of Institutions

Article 4 The establishment of an insurance company shall be subject to the approval of the CIRC.

Without approval of the CIRC, no entity or individual may engage in commercial insurance operations or do so in any disguised form within the People’s Republic of China.

 

Article 5 The following principles shall be observed in the establishment of an insurance company:

(1) Abiding by the laws and administrative regulations;

(2) In keeping with the macro-economic economic policies of the state and the development strategies of insurance industry;

(3) Being conducive to the fair competition and healthy development of insurance industry.

 

Article 6 The following conditions shall be met in the establishment of an insurance company:

(1) Having qualified investors and a reasonable stock right structure;

(2) The articles of association are in accord with the provisions of the Insurance Law and Company Law;

(3) The minimum registered capital shall be RMB 200 million yuan, and the registered capital shall be actually contributed monetary capital;

(4) The senior managerial personnel shall meet their position qualifications and conditions as specified by the CIRC;

(5) Having perfect organizational structure and management system; and

(6) Having a business place and office equipment compatible with the development of its business.

 

Article 7 When establishing an insurance company, the applicant shall file a written application to the CIRC and submit the following materials in triplicate:

(1) The establishment application, which shall contain the name, registered capital and business scope of the to-be-established company;

(2) The feasibility report, which shall contain the business development plan, draft articles of association and business management strategies;

(3) The preparatory establishment plan;

(4) The investors’ shares subscription agreement, and the materials showing the approval of the board of directors or administrative organ for investment;

(5) The business license of the investors or other background materials, the asset-liability statements and the profit-loss statements of the previous year upon audit by certified public accountants;

(6) The name list and personal statements of the person-in-charge of the preparatory group acknowledged by the investors, the candidates for the chairman of the board of directors and the general manager; and

(7) Other materials required by the CIRC.

Article 8 The CIRC shall examine the application for the establishment of an insurance company, and shall make a decision on approval or disapproval of the preparatory establishment within 6 months as of the receipt of a complete set of application materials. If it makes a disapproval decision, it shall give a written notice to the applicant to explain.

 

Article 9 During the period of examining the application for the establishment of an insurance company, the CIRC shall educate the investors about the risks of investments in the insurance industry. The CIRC shall listen to the candidate chairman of the board of directors and the general manager about their market development strategies, business development plan and construction of internal control system for the to-be-established company, and shall take these into consideration in deciding whether to approve or disapprove the preparatory establishment.

Article 10 Where an applicant is granted approval by the CIRC to make the preparatory establishment of an insurance company, it shall complete the preparatory establishment work within 1 year. If it fails to complete the work within the time limit for justifiable reasons, the preparatory establishment period may extend 3 months upon approval of the CIRC. If it fails to complete the work within the extended time limit, the said approval documents of the CIRC regarding the preparatory establishment shall be invalidated automatically. The preparatory establishment institution shall not engage in any insurance business activities.

In principle, no investor may be changed during the period of preparatory establishment. If any investor is changed without approval, the said approval documents regarding the preparatory establishment shall be invalidated automatically.


Article 11 After the preparatory establishment work has been completed, the applicant shall file an application to the CIRC for starting business, and shall submit the following materials in triplicate:

(1) The business-starting application;

(2) The transcript of the initial meeting for the establishment;

(3) The articles of association;

(4) The name of the shareholders and their respective proportion of shares, the capital verification certification issued by a capital verification institution with good credit standing, the photocopies of the original documents for the capital deposited into the bank account;

(5) The business licenses of the shareholders or other background materials, their asset-liability statements and the profit and loss statements of the previous year;

(6) The resumes and relevant certification materials of the candidate senior managerial personnel of the company, an introduction of the setup of the company and personnel, the resumes of the actuaries and the pertinent certification materials;

(7) The certification documents of the ownership and use right of the business places;

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

(9) The plan on the insurance products; and

(10) The report on the installation of computer equipment and the construction of network.

 

Article 12 Within 60 days from the day when the CIRC receives the application documents for starting business, the CIRC shall make a decision of approval or disapproval. If it decides to approve, it shall issue a license for engagement in the insurance business to the applicant. If it decides to disapprove, it shall give a written notice to the applicant to explain. An insurance company approved to start business shall go through the registration formalities in the administrative department for industry and commerce upon the strength of the approval documents and the license for engagement in the insurance business. It shall not start business until it has obtained a business license.

 

Article 13 An insurance company may apply for establishing branches in light of the needs of business development.

When an insurance company carries out business in any province, autonomous region or municipality directly under the Central Government other than its registered place, it shall establish branches. It may, according to the actual circumstances, apply for establishing central sub-branches, sub-branches, business departments or distribution and service departments. With regard to the establishment and management of the distribution and service departments of insurance companies, if it is otherwise provided for by the CIRC, the latter shall be followed.

 

Article 14 With regard to an insurance company that is established with the minimum registered capital as specified in Article 6 (3) of the present Provisions, it shall increase its registered capital by not less than RMB 20 million yuan if it applies for establishing its first branch in every province, autonomous region, or municipality directly under the Central Government, other than its registered place. When applying for establishing a branch company, the insurance company isn’t required to increase its registered capital accordingly if its registered capital has attained to the amount after increase as specified in the preceding paragraph. If the registered capital of the insurance company attains to RMB 500 million yuan and the insurance company is fully solvent, the insurance company isn’t required to increase its registered capital in the establishment of branches.

 

Article 15 An insurance company shall meet the following conditions when applying for establishing a branch institution:

(1) The amount of solvency meets the relevant requirements of the CIRC;

(2) Having perfect internal control system, having no punishment record. If it has engaged in insurance business for more than 2 years, it shall have no punishment record within the recent 2 years; and

(3) Having senior managerial personnel for the branch institution who meet the qualifications and conditions required by the CIRC.

 

Article 16 When establishing a branch institution, the insurance company shall file an application to the CIRC and submit the following materials in triplicate:

(1) An establishment application;

(2) An un-audited report on the solvency by the end of the previous year and recent quarter;

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

(4) The resume and relevant certification materials of the person to be in charge of the preparation of the to-be-established institution.

 

Article 17 The CIRC shall examine the application for establishing a branch institution, and shall make a decision of approval or disapproval within 20 days as of the receipt of the complete set of application materials. If it decides to disapprove, it shall give a written notice to the applicant to explain. After the application has been approved, the applicant shall complete the preparatory establishment of the branch within 6 months. If it fails to do so within the time limit with justifiable reasons, the time limit may extend 3 months upon approval of the CIRC. If it fails to complete the preparatory establishment within the extended time limit, the said approval documents of the CIRC shall become null and void automatically. The preparatory institution shall not engage in any insurance business.

 

Article 18 After having completed the preparatory establishment work of the branch institution, the applicant shall file an application to the CIRC for starting business, and shall submit the following materials in triplicate:

(1) An business-starting application;

(2) The report on the completion of the preparatory work;

(3) The resume and relevant certifications of the candidate senior managerial personnel;

(4) The relevant certifications of the ownership or use right of the business place of the to-be-established branch institution, the installation of computer equipment and the construction of network, an introduction of the setup of internal institutions and the information of the practitioners.

 

Article 19 The CIRC shall make a decision about approval or disapproval within 20 day as of the receipt of the complete set of business-starting application documents for the branch. If it decides to approve, shall issue the applicant a branch license for engagement in insurance business. If it decides to disapprove, it shall give a written notice to the applicant to explain. A branch of insurance company approved of starting business shall go through the registration formalities in the administrative department for industry and commerce upon the strength of the approval documents and branch license for engagement in insurance business. It shall not start business until it has obtained the business license.

 

Article 20 The relevant provisions of the CIRC shall be applicable to the examination and management of the qualifications for the posts of the senior managerial personnel of the insurance companies.

 

Article 21 When an insurance company establishes any representative office within China, it shall be subject to approval of the CIRC. No representative office may engage in any insurance business.

 

Article 22 When an insurance company establishes any operating institution or representative office abroad, it shall be subject to approval of the CIRC.

 

 

Section 2 Changes of Institutions

Article 23 Before an insurance company changes any of the following items, it shall report to the CIRC for approval:

(1) The organizational form;

(2) The registered capital;

(3) Division or merger;

(4) The contributors or shareholders who hold 10 % or more of the company’s shares; or

(5) Withdrawing any branch institution.

 

Article 24 Before an insurance company changes any of the following items, it shall report to the CIRC for approval:

(1) The company name;

(2) The articles of association;

(3) Adjusting the business scope; or

(4) The registered place.

 

Article 25 Before an insurance company changes any of the following items, it shall report to the CIRC for approval:

(1) The shareholders who hold less than 10 % of the company’s shares, except that the insurance company is listed in any stock exchange;

(2) A branch of the insurance company changes its business place.

Article 26 Where an insurance company changes any of the following items, it shall submit a written report to the CIRC within 15 days from the day when it makes a change:

(1) Any shareholder of the insurance company changes its name, except that the insurance company is listed in any stock exchange; or

(2) Any branch institution of the insurance company is merged or whose name is changed.

 

Article 27 Where an insurance company withdraws any of its branches, it shall give explanations to the CIRC, and submit the subsequent handling plan on the business of the branch institution withdrawn. Where an insurance company merges or withdraws a branch institution, it shall make an announcement, and shall give a written notice to the insured or beneficiaries, shall let them have full knowledge of the payments for premiums and obtaining insurance money, etc. Where an insurance company withdraws a branch, the branch’s insurance license shall be invalidated automatically as of the day when the company is granted an approval, and the branch insurance license shall be returned within 15 days.

 

Article 28 Where an insurance institution modifies any information on the insurance license, it shall, upon the strength of the relevant documents and the insurance license, change its license in the issuing organ within 1 month from the day when it is approved, ratified, recorded or reported.

 

Section 3 Insurance License

Article 29 The term "insurance licenses" as mentioned in the present Provisions refers to an insurance company’s or any of its branch institution’s license for engagement in insurance business. An insurance license is a legal document, which is issued by the CIRC according to law, allowing an insurance institution to engage in insurance business and proving the insurance institution’ legitimate engagement in insurance business.

 

Article 30 The CIRC shall be responsible for the design, printing, issuance, detaining, capturing, or canceling of the insurance licenses in accordance with the law. No insurance institution may forge, alter, lease, lend or transfer any insurance license.

 

Article 31 An insurance institution shall put its insurance license in an eye-catching position of the business place for further examination.

 

Article 32 In the event that its insurance license is missing, the insurance institution shall, within 10 days as of its knowledge, publish a statement of nullification on the newspapers designated by the CIRC, and simultaneously file an application to the original issuing organ for a new one.

 

Section 4 Termination and Liquidation

Article 33 Where an insurance company is to dissolve, a liquidating group shall be formed. The liquidation work shall be subject to the supervision and guidance of the CIRC. Where an insurance company is to be dissolved, the CIRC shall duly organize the shareholders, relevant departments and professionals to form a liquidating group. Where an insurance company is declared bankrupt according to law, the people’s court shall organize a liquidating group.

 

Article 34 Within 10 days as of the formation of a liquidating group, the creditors shall be informed of it; and within 60 days, an announcement shall be published in the newspapers designated by the CIRC for at least three times. The content of the announcement shall be subject to examination and approval of the CIRC. The liquidating group shall entrust certified accountant firms, actuary firms and law firms to assess the credits, debts and assets of the company.

 

Article 35 The insurance company shall file an application with the CIRC for dissolution in accordance with the articles of incorporation or the decision of the assembly of shareholders, and submit the following documents in triplicate:

(1) An application for dissolution;

(2) The decision of the assembly of shareholders;

(3) The organization of liquidation and its leader;

(4) The liquidation procedure;

(5) The plan dealing with credits and debts;

(6) The plan on the distribution of assets and the plan on disposition of assets;

(7) Other materials as required by the CIRC.

 

Article 36 No sooner than an insurance company is dissolved or withdrawn according to law, it shall not accept any new business and shall return the insurance license.

 

Article 37 Where an insurance company dissolves or is withdrawn according to law, its assets shall be disposed of by way of open auction, agreement-based transfer or by any other way acknowledged by the CIRC.

 

Article 38 Where an insurance company is dissolved, is withdrawn or is declared bankrupt according to law, its plan on transfer of insurance contacts shall be subject to approval of the CIRC.

 

Article 39 In the event of dissolution of any insurance company, the shareholders of the company shall not distribute the assets of the company or obtain any benefit from the company until the liquidation of the insurance-contract-related liabilities is completed.

 

Article 40 If, in the process of liquidation, the insurance company being dissolved is found to be insolvent, an application shall be filed for bankruptcy claim, and the liquidation of assets and disposition of credits and debts shall be conducted by following the legal procedure for bankruptcy.

 

Section 5 Investments in Insurance Companies

Article 41 Legal person enterprises or other organizations permitted by any law or administrative regulation may invest in insurance companies.

 

Article 42 A legal person enterprise that invests in an insurance company shall:

(1) Be in conformity with the provisions of the laws and administrative regulations;

(2) Ensure that the source of investment fund is legitimate, and the operating status is good; and

(3) Meet other conditions as provided for by the CIRC on the basis of the principle prudent supervision.

 

Article 43 No individual legal person enterprise or other organization (including the associated parties thereof), except for an insurance holding company or insurance company approved by the CIRC, that invests in any insurance company may hold as much as 20% of the total shares of the insurance company.

 

Article 44 An insurance company shall submit a written report on the connection among its shareholders, if any.

 

Article 45 Upon approval of the CIRC, the foreign financial institutions meeting the conditions as specified in Article 42 may invest in an insurance company. The shares held by all foreign shareholders shall be less than 25 % of the total shares of the insurance company. The relevant administrative provisions on foreign-funded insurance companies shall be applicable to an insurance company in which the shares held by all foreign shareholders are 25% or more of its total shares. Where foreign shareholders make investments into a listed insurance company, it isn’t subject to the limits prescribed in the preceding paragraph.

 

Article 46 An insurance company that is listed in any stock exchange by IPO within China shall observe the relevant limitations on investment ratios as prescribed in Article 42 of the present Provisions.

 

Chapter III. Insurance Businesses Operation

 

Article 47 Upon examination and ratification of the CIRC, a property insurance company may engage in all or some of the following insurance businesses:

(1) Insurance for loss of property;

(2) Insurance for liabilities;

(3) Insurance for statutory liabilities;

(4) Credit insurance and guaranty insurance;

(5) Agriculture insurance;

(6) Insurance for other properties;

(7) Short-term health insurance and accidental injury insurance; and

(8) Reinsurance businesses of the above-mentioned insurance businesses.

 

Article 48 Upon examination and approval of the CIRC, a life insurance company may engage in all or some of the insurance businesses:

(1) Accidental injury insurance;

(2) Health insurance;

(4) Traditional life insurance;

(5) New products of life insurance;

(6) Traditional annuity insurance;

(7) Other personal life insurance businesses;

(8) Reinsurance businesses of the above-mentioned insurance businesses.

 

Article 49 Where an insurance company applies for expanding its business scope, its registered capital and solvency shall meet the relevant requirements of the CIRC.

 

Article 50 Where an insurance institution engages in foreign exchange insurance businesses, it shall observe the provisions of CIRC and the State Administration of Foreign Exchange on the management of foreign exchange insurance businesses.

 

Article 51 Except for the circumstances as specified in Article 52 of the present Provisions, the branches of an insurance institution shall not engage in insurance businesses beyond their respective province, autonomous region, or municipality directly under the Central Government.

 

Article 52 Where an insurance institution participates in coinsurance, engages in a large-scale commercial insurance or insurance business in the form of blanket policy and undertakes insurance businesses of other provinces, autonomous regions, and municipalities directly under the Central Government, it shall observe the relevant requirements of the CIRC.

 

Article 53 An insurance company shall, in accordance with the law, determine the self-retaining premium of an insurance business, and decide the self-retaining liabilities for any loss that may be caused by each unit of risk. As to the part exceeding the statutory limit, it shall be subject to reinsurance.

 

Article 54 Where an insurance company needs to handle any outward reinsurance business, the outward reinsurance shall, under identical conditions, be given, as a preemptive, to the insurance companies within the territory of China.

 

Article 55 No insurance institution may force, or force in a disguised form, the insured to purchase an insurance.

 

Article 56 No insurance institution may entrust any illegal agent to expand business for it, accept any insurance business recommended by an illegal broker, or pay a service fee, commission or any other similar fee to an illegal agent or broker.

 

Article 57 No insurance institution may fabricate or spread any false information to impair the credit standing of any other insurance institution.

 

Article 58 No insurance institution may persuade or induce an insurant or the insured to cancel the contract concluded with other insurers.

 

Article 59 An insurance company shall not make use of the government and the instrumentalities thereof, monopolistic enterprises or organizations to unlawfully squeeze out other insurance companies or impede the normal insurance business of other insurance companies.

 

Article 60 No insurance institution may provide to an insurant, the insured, beneficiary or his interested parties any kickback of premium or other benefits or interests in violation of any law or regulation.

 

Article 61 An insurance institution shall establish a special client service department or consultation and complaint department, and shall publicize its consultation and complaint telephone number. The insurance institution shall carefully address the complaints of insurants, the insured, beneficiaries, and shall duly inform the complainant of how to deal with it.

 

Article 62 The publicity materials of the insurance company shall be objective, comprehensive, complete and authentic, which shall include its name, address and consultation & complaint telephone number.

 

Article 63 The publicity materials of an insurance company shall not contain any prediction of the profits of the company, policy dividends, refund of margin and other uncertain policy-related benefits, etc. No insurance company may mislead the public in the aspects of the content of the insurance clauses and its service quality by advertisement or any other means.

 

Article 64 In an insurance contract, an insurance institution shall have clear indication of the excluded liabilities or liability immunity, refund of premium and deduction of other expenses, cash value, hesitation period and other matters. The insurance institution shall not make ex parte comparison of the terms of insurance or premium rates with similar clauses or premium rates of other insurance companies or with the deposit rates of financial organizations.

 

Article 65 An insurance company shall exercise supervision over the operations of its insurance agents. Any acts of the insurance agents in violation of the laws and regulations shall be stopped or corrected immediately upon discovery. In accordance with the law, the insurance institution shall bear the corresponding liabilities for the false statements, misleading information and other acts of the insurance agents for expanding business.

 

Article 66 An insurance company shall make relevant bylaws to control and manage the connected transactions. Any important connected transaction shall, according to the relevant provisions, be reported to the CIRC within 15 days after it is completed. The term "connected transactions" as mentioned in the preceding paragraph refer to the following transactions between the insurance companies and their connected parties:

(1) Reinsurance business;

(2) Asset management, guaranty and agent businesses;

(3) Dealings of fixed assets or transfer of credits and debts.

Under any of the following circumstances, it shall be deemed that there is a connection between an enterprise and an insurance company:

(1) They are related to each other due to control of shares and capital contributions;

(2) They are both controlled by a same third party in shares or capital contributions;

(3) They are directly controlled by the senior managerial personnel of an insurance company or by their close family members. The senior managerial personnel of an insurance company or their close family members shall be deemed to have a connection with the insurance company.

 

Article 67 An insurance company shall establish and perfect its corporate governance structure, strengthen internal management, and establish strict internal control system.

 

Article 68 An insurance company shall have obtained the supervisory opinion issued by the CIRC if it seeks to be listed.

 

Chapter IV Terms of Insurance and Premium rates 

 

Article 69 The insurance terms and premium rates employed by an insurance company shall, in accordance with the law, be reported to the CIRC for examination and approval.

 

Article 70 The insurance terms and premium rates for any of the following insurance products shall be reported to the CIRC for examination and approval:

(1) The mandatory insurance products according to law;

(2) The newly developed life insurance products;

(3) Other insurance products determined by the CIRC as relating to the interests of the general public.

The catalog of insurance products subject to examination and approval shall be formulated and adjusted by the CIRC.

 

Article 71 Besides the provisions of the preceding paragraph, the insurance terms and premium rates employed by an insurance company for other insurance products shall be reported to the CIRC for archival purposes.

 

Article 72 When examining, approving or keeping record of the insurance terms and premium rates, the CIRC shall follow the principles of protecting the interests of the general public and avoiding unfair competition. The CIRC may require an insurance company to modify its insurance terms and premium rates as well as order the insurance company to stop using them under any of the following circumstances:

(1) Violating any of the laws, administrative regulations or the prohibitive provisions of the CIRC;

(2) Violating any of the relevant public finance and financial policies;

(3) Impairing the interests of the general public;

(4) The content is obviously unfair or forms price monopoly, thus the legitimate interests of insurance applicants, insurants or beneficiaries are impaired;

(5) The design of terms or stipulations on premium rates or expected interest rate is inappropriate, which are likely to endanger the solvency of the insurance company; or

(6) Other reasons determined by the CIRC on the basis of the principle of prudent supervision.

 

Article 73 Where the insurance company is to modify the insurance terms and premium rates that have been approved or recorded, it shall file a new application for examination and approval or keeping the new record. When an insurance company concludes any specific insurance contract, it and the party concerned may enter into a supplementary agreement on some particulars, excluding the circumstances as listed in Article 72 (1) through (6).

 

Article 74 The long-term insurance terms, expected interest rate and other pricing factors determined by an insurance company shall be consistent with the relevant provisions of the CIRC.

 

Article 75 An insurance company shall actively develop insurance products satisfying social demand, and try every effort to bring new products and services. The language of the insurance terms and premium rates used by an insurance company shall be simple, explicit and easy to understand.

 

Article 76 The insurance industry association may issue model texts of property or personal insurance terms. The insurance industry association may, according to the actual circumstances, announce guiding premium rates.

 

Chapter V Insurance Funds and Solvency of Insurance Companies

 

Article 77 An insurance shall retain security deposit in accordance with the law. Except for using the security deposit to clear up the debts in the process of liquidation according to law, the insurance company shall not use or dispose of it without permission.

 

Article 78 An insurance company shall establish an insurance security fund in pursuance of the law. The insurance security fund shall be subject to centralized management and planned use as a whole according to the relevant provisions of the CIRC.

 

Article 79 An insurance company shall make reserves for various insurance liabilities according to the pertinent provisions of the CIRC. The reserves retained by the insurance company for various insurance liabilities shall be authentic and adequate.

 

Article 80 The uses of insurance fund shall be limited to:

(1) bank deposits;

(2) dealings of government bonds;

(3) dealings of financial bonds;

(4) dealings of enterprise bonds;

(5) dealings of securities investment fund; and

(6) other forms provided by the State Council for using the fund.

When an insurance company makes investments by using the insurance fund, it shall have the specific ways, rates of specific products and the lowest grade rating upon determination meet the relevant requirements of the CIRC.

 

Article 81 When an insurance company uses any of its overseas funds, it shall comply with the relevant provisions of the state.

 

Article 82 An insurance company may establish a insurance asset management company and may entrust an insurance asset management company to use the insurance fund.

 

Article 83 An insurance company shall, under the principles of protecting the interests of the insurants and keeping the solvency, operate stably and soundly, and ensure that its actual amount of solvency be not lower than the minimum amount of solvency at any time.

 

Article 84 The actual amount of solvency of an insurance company shall be the margin between the confirmed assets and the confirmed debts. The confirmation, computation and reporting of the assets and debts shall be in conformity with the relevant provisions of the CIRC.

 

Article 85 The standard on the minimum amount of solvency of insurance companies shall be provided and adjusted by the CIRC.

 

Article 86 Where the actual amount of solvency of an insurance company is less than the minimum amount of solvency, the insurance company shall take effective measures to improve its status of solvency, and shall report the rectification plan, specific measures and due effects to the CIRC.

 

Article 87 The adequate solvency ratio of an insurance company shall be the quotient of the actual amount of solvency of the insurance company divided by the minimum amount of solvency. If the adequate solvency ratio is less than 100%, the CIRC shall list this insurance company as an important supervisory object, and shall take the following supervisory measures in light of the actual circumstances:

(1) If the adequate solvency of the insurance company is 70% or more, the CIRC may demand the company to make a rectification proposal and to meet the requirements for the minimum amount of solvency within a time limit. If it fails to meet the requirements, the CIRC may take supervisory measures such as demanding the company to increase capital and ordering it to handle reinsurance and to impose limits on its business scope, distribution of dividends to shareholders, purchases of fixed assets, scale of operating expenses and establishment of branches, etc. till it meet the requirements for the minimum amount of solvency.

(2) If the adequate solvency ratio is between 30% and 70%, the CIRC shall not only take the above-mentioned measures, it may also order the insurance company to auction its non-performing assets, to transfer its insurance businesses, to impose limits on the salaries of its senior managerial personnel and their work-related expenditure, to restrict the commercial advertisements of the company, to adjust the uses of fund and to stop engaging in new businesses.

(3) If the adequate solvency ratio of the insurance company is less than 30%, the CIRC shall not only take the above-mentioned measures, but also may take over the insurance company in accordance with the law.

 

Chapter VI Supervision and Inspection

 

Article 88 When conducting supervision over the insurance companies, the CIRC shall abide by the principle of combining the supervision over solvency with the supervision over market activities. The insurance companies shall, in pursuance of the law, be subject to the supervision of the CIRC.

 

Article 89 When conducting supervision over the insurance institutions, the CIRC shall adopt the way of combining on-site supervision with offsite supervision.

 

Article 90 An insurance institution that is under any of the following circumstances shall be regarded by the CIRC as an important object for inspection:

(1) Having violated the law or regulations seriously;

(2) Being inadequately solvent;

(3) Its financial status is abnormal;

(4) Providing false reports, statements, documents and materials; and

(5) Other matters that the CIRC considers that it is necessary to list it as an important object for inspection.

 

Article 91 The on-site inspections conducted by the CIRC over an insurance institution shall include all or some of the following items:

(1) Whether it has obtained approval for the establishment or modifications of the institution, and whether it has completed the formalities for record-keeping;

(2) Whether the content of the application materials is in conformity with the actual circumstances;

(3) Whether the capital and various reserve funds are authentic and adequate;

(4) Whether the solvency is adequate;

(5) Whether the uses of fund are lawful;

(6) Whether the business operations and financial status are good, whether the statements are complete and authentic;

(7) Whether it has reported the insurance terms and premium rates for examination and approval or for archival purposes according to relevant provisions;

(8) Whether the businesses between it and insurance intermediaries are in line with the law and regulations;

(9) Whether the formalities for the appointment or change of personnel are complete;

(10) Where the required after-event reporting matters have been duly reported; and

(11) Other matters that the CIRC deems necessary for inspection.

 

Article 92 When the CIRC conducts on-site inspections over an insurance institution, the insurance institution shall cooperate with it and shall provide relevant documents and materials as demanded by the CIRC.

 

Article 93 When the personnel of the CIRC conduct on-site inspections over an insurance institution, the number of inspectors shall not be less than 2, and they shall show their certificates and the inspection notice. When CIRC authorizes an accounting firm or any other social intermediary to inspect an insurance institution, it shall adopt the form of written authorization.

 

Article 94 The insurance institutions shall timely submit business reports, actuarial reports, financial accounting statements, solvency reports and relevant supervisory statements to the CIRC according to the relevant provisions.

 

Article 95 All statements and reports submitted by the insurance institutions to the CIRC shall be complete, authentic and accurate.

 

Article 96 The business operation reports, financial accounting statements, solvency reports and other relevant statements of an insurance company shall be signed by the legal representative or general manager of the company. The annual financial accounting reports and solvency reports shall be subject to the audit by certified public accountants. The actuarial reports of the insurance company shall be signed by the actuaries acknowledged by the CIRC. The reports and statements of a branch of the insurance company shall be signed by the person-in-charge of the branch and be affixed with the seal of the branch.

 

Article 97 Where the assembly of the shareholders or the board of directors of an insurance company makes any significant resolution, it shall report it to the CIRC within 30 days after the resolution is made.

 

Article 98 While performing the supervisory functions, the CIRC may talk with or interrogate the senior managerial personnel of an insurance institution, demanding them to make explanations about the insurance business operations and the important matters relating to risk management.

 

Article 99 Where an insurance company or any of its personnel violates the present Provisions, it (he) shall be given a warning by the CIRC, be ordered to get right and be given an administrative punishment according to the laws and administrative regulations. If suspected of constituting any crime, it (he) shall be transferred to the judicial organ for criminal liabilities.

 

Chapter VII Supplementary Provisions

 

Article 100 The present Provisions shall be applicable to the foreign-funded insurance companies and reinsurance companies, however, if it is otherwise provided for by the laws, administrative regulations or the CIRC, the latter shall be followed.

 

Article 101 The present Provisions shall be applicable to the export credit insurance companies and other policy insurance companies by analogy before the relevant provisions of state are issued.

 

Article 102 All statements and materials submitted by the insurance institutions to the CIRC shall be written in Chinese. If the original text is in a foreign language, it shall be accompanied by a Chinese translation. If there is any discrepancy between the Chinese text and the text in a foreign language, the Chinese one shall prevail.

 

Article 103 The relevant time limits in the provisions, except for those based on year or month, shall be calculated on the basis of working day, excluding legal holidays.

 

Article 104 The power to interpret the present Provisions shall remain with the CIRC.

 

Article 105 The present Provisions shall be implemented as of June 15, 2004. The Administrative Provisions on Insurance Companies (No. 2 (2000)) issued by the CIRC on January 3, 2000 and the Decision To Amend Some Articles in the Administrative Provisions on Insurance Companies (No. 3 (2002) issued by the CIRC on March 15, 2002 shall be abolished simultaneously.