China Insurance Regulatory Commission, Circular on Issues Relevant to the Regulation of Captive Insurance Companies
中国保险监督管理委员会关于自保公司监管有关问题的通知
December 31, 2013 | BY
CLP Temp &clp articles &Circular issued to regulate captive insurance companies.
Issued: December 2 2013
Applicability: For the purposes of this Circular, the term “captive insurance company” means an insurance company invested solely by its parent or jointly by its parent and the controlled subsidiary of its parent, and that provides property insurance, short-term health insurance and short-term accidental injury insurance solely to its parent (and the controlled subsidiary).
Main contents: The total assets of an enterprise establishing a captive insurance company may not be less than Rmb100 billion. A captive insurance company may be established in the form of a company limited by shares or a limited liability company (Article 2).
Related legislation: PRC Insurance Law (Amended), Feb 28 2009, CLP 2009 No.3 p.35; and Provisions for the Administration of Insurance Companies, Sep 25 2009, CLP 2009 No.9 p.44
clp reference:3910/13.12.02 issued:2013-12-02
Issued: December 2 2013
Applicability: For the purposes of this Circular, the term “captive insurance company” means an insurance company invested solely by its parent or jointly by its parent and the controlled subsidiary of its parent, and that provides property insurance, short-term health insurance and short-term accidental injury insurance solely to its parent (and the controlled subsidiary).
Main contents: The total assets of an enterprise establishing a captive insurance company may not be less than Rmb100 billion. A captive insurance company may be established in the form of a company limited by shares or a limited liability company (Article 2).
Related legislation: PRC Insurance Law (Amended), Feb 28 2009, CLP 2009 No.3 p.35; and Provisions for the Administration of Insurance Companies, Sep 25 2009, CLP 2009 No.9 p.44
clp reference:3910/13.12.02 issued:2013-12-02
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