Measures for the Administration of the Capital Guarantee Funds of Insurance Companies

保险公司资本保证金管理办法

The Measures require insurance companies to deposit capital guarantee funds in more than one bank.

(Issued by the China Insurance Regulatory Commission on, and effective as of, July 7 2011.)

(中国保险监督管理委员会于二零一一年七月七日发布实施。)

Bao Jian Fa [2011] No.39

保监发 [2011] 39号

Part One: General provisions

Article 1: These Measures have been formulated pursuant to the PRC Insurance Law (the Insurance Law) in order to strengthen the administration of the capital guarantee funds of insurance companies, and safeguard the stable and healthy development of the insurance market.

Article 2: For the purposes of these Measures, the term “insurance company” means a commercial insurance company, the establishment of which was approved by an insurance regulatory authority and that is registered in accordance with the law.

Article 3: For the purposes of these Measures, the term “capital guarantee funds” means the funds equivalent to 20% of an insurance company's total registered capital that, pursuant to the Insurance Law, an insurance company is required to set aside after its establishment and may not use except to discharge its debts when it is being liquidated.

Article 4: The China Insurance Regulatory Commission (the CIRC) oversees the capital guarantee funds of insurance companies in accordance with the law. The deposit and disposal, etc. of their capital guarantee funds by insurance companies shall comply with these Measures.

Article 5: Insurance companies shall deposit their capital guarantee funds in accordance with the principles of “full amount, safety and stability”.

第一章 总 则

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