Article 70 of the Insurance Law of People's Republic of China (PRC) stipulates that to apply for the establishment of an insurance company, a written application shall be submitted to the insurance supervision and administration institution of the State Council, and the following materials shall be submitted:
(1) An application for establishment, which shall specify the name, registered capital and business scope of the insurance company to be established;
(2) Feasibility study report;
(3) making plans;
(4) the business license or other background information of the investor, and the financial and accounting report of the previous year audited by an accounting firm;
(five) the list of the person in charge of the preparatory group and the proposed chairman and manager recognized by the investors and their own recognition certificates;
(6) Other materials as prescribed by the insurance regulatory agency of the State Council.
Article 73 stipulates that the the State Council insurance supervision and administration institution shall make a decision on whether to approve or disapprove the opening of the business within 60 days from the date of accepting the application for opening the business. If the decision is approved, the insurance business license shall be issued; If it decides not to approve, it shall notify the applicant in writing and explain the reasons.
When a bank cooperates with an insurance company, it shall obtain the above documents from the insurance company.
Extended data:
People's Republic of China (PRC) insurance law
Article 68 The establishment of an insurance company shall meet the following conditions:
(1) The major shareholders are profitable continuously, have a good reputation, have no record of major violations of laws and regulations in the last three years, and have net assets of not less than 200 million yuan;
(2) Having articles of association that conform to this Law and the Company Law of People's Republic of China (PRC);
(3) Having a registered capital that meets the requirements of this Law;
(4) Having directors, supervisors and senior managers with professional knowledge and business experience;
(5) Having a sound organizational structure and management system;
(6) Having a business place that meets the requirements and other facilities related to business operation;
(seven) other conditions stipulated by laws, administrative regulations and the State Council insurance regulatory agency.
Article 69 The minimum registered capital for the establishment of an insurance company is RMB 200 million.
Baidu Encyclopedia-People's Republic of China (PRC) and China Insurance Law