(October 14, 2005 China insurance supervision Management Committee makes 2005 2nd, announced since December 1, 2005 up purposes) first chapter General first article to foster and development again insurance market, strengthening on again insurance business of management, dispersed insurance business risk, achieved insurance health coordination sustainable development, according to People's Republic of China insurance (following referred to insurance), and People's Republic of China foreign insurance company management Ordinance and about legal, and administrative regulations,
    These provisions are formulated.
    Article re in these rules refers to insurance companies to its insurance business, in part to other acts of insurance company.
    Treaty reinsurance in these rules refers to insurance companies and other insurance companies to contract in advance, agree to have a certain period of its insurance business, reinsurance business to other insurance companies.
    Facultative reinsurance in these rules refers to insurance companies a temporary appointment with other insurance companies, its insurance operations reinsurance business to other insurance companies.
    The provisions of article III of the said insurance companies, means approved by the China's insurance regulatory body established and legally registered commercial insurance company, including direct insurers and reinsurers.
    Direct insurance companies in these rules refers to policyholders, direct responsibility for insurance insurance companies issue insurance policies; re in these rules refers to specialized in reinsurance business, not directly to the insured issued insurance policy the insurance company.
    Reinsurance companies in these rules refers to its insurance business, some transfer to other insurance companies insurance companies; reinsurance to companies in these rules refers to accept other insurance company transfer of insurance business, the insurance company.
    Separate business in these rules refers to reinsurance companies to move out of the insurance business; business in these rules refers to insurance companies into the insurance business.
    Insurance cooperatives in these rules refers to working with individual insurers cannot afford special risks or huge insurance business or in accordance with international practice, by two or more insurance companies formed, in accordance with its articles agree to carry on insurance business of the organization.
    Foreign insurance companies in these rules refers to China's insurance regulatory body approved the establishment of Sino-foreign joint venture insurance companies, foreign-owned insurance companies, branch of a foreign insurance company.
    Insurance brokers in these rules refers to accepting reinsurance company, reinsurance companies and reinsurance to companies reinsurance intermediary services, and according to the agreed Commission of insurance broking.
    Fourth in the People's Republic of China territory of insurance companies and Insurance Association and other insurance agencies and insurance brokers insurance business shall comply with these requirements.
    Fifth consortium of insurance companies, insurance and reinsurance business insurance broker shall follow the principles of prudence and integrity.
    Article sixth reinsurance companies, reinsurance companies and insurance brokers, to Transact reinsurance business in the knowledge of the principal business and financial circumstances, the obligation to keep confidential.
    Seventh China insurance regulatory Committee (hereinafter referred to as the CIRC) actively encouraging insurance companies and insurance brokers for agricultural insurance and catastrophe such as earthquake, flood insurance offers reinsurance services.
    Article eighth of China insurance regulatory Commission on reinsurance supervision and management in accordance with law. Chapter II business Nineth reinsurance business is divided into life insurance insurance and non-life reinsurance.
    Insurance company life insurance insurance and non-life reinsurance accounts should be listed separately, accounted for separately.
    Tenth of an insurance company shall, in accordance with the provisions of the Insurance Act, determine each risk unit retained risk premiums and over parts, should go through reinsurance.
    11th direct processing of treaty reinsurance and facultative reinsurance of the insurance company, priority should be given to insurance companies in China to make an offer, and in accordance with the following provisions: (a) shall apply to the territory of China at least two professional reinsurers offer, (ii) if separate share shall not be less than the sum of the separate business 50%.
    12th article except aviation space insurance, and nuclear insurance, and oil insurance, and credit insurance outside, directly insurance company handle contracts points insurance or temporary points insurance of, should meet following provides: (a) each dangerous units points to with a again insurance points into company of business, shall not over directly insurance business insurance amount or responsibility limit of 80%; (ii) each temporary points insurance contract points to policyholders associated enterprise of insurance amount or responsibility limit, shall not over directly insurance business insurance amount or responsibility limit of 20%. 13th within the statutory duration of reinsurance direct insurance company shall, in accordance with the relevant regulations of the China insurance regulatory Commission, will in its underwriting business in full and on time for the statutory insurance.
    Statutory insurance company shall pay the compensation in full and on time in accordance with regulations.
    14th be reinsurance company requested, reinsurance companies should be proud responsibility to inform the reinsurance and direct insurance company.
    15th insurance companies and insurance brokers can use financial instruments to develop new risk transfer products, and shall, in accordance with the relevant provisions of the China insurance regulatory Commission for approval or for the record.
    16th reinsurance to companies in China, shall be equipped with full-time live in China's reinsurance underwriter and Insurance Examiner.
    17th chapter reinsurance brokerage business insurance broker reinsurance brokerage business, must not harm the reputation of the insurance company and the legitimate rights and interests.
    18th an insurance broker can be designed according to business needs or reinsurance contracts.
    19th an insurance broker shall, in accordance with the reinsurance company the contract, send billing, settlement and insurance payments in a timely manner, as well as the fulfilment of other obligations, not to misappropriate or withhold premiums, contributions to compensation, fees and recovered costs.
    20th at the request of reinsurance companies, insurance broker shall, in accordance with agreed with reinsurance companies, which know the reinsurance company's retained responsibility to inform of the situation of the reinsurance and direct insurance company.
    Article 21st reinsurance company requirements or insurance company, insurance broker can match the claims of compensation.
    Supervision and administration of the fourth chapter article 22nd unless approval of the China insurance regulatory Commission, foreign insurance companies not associated with corporate reinsurance business.
    Article 23rd for reinsurance business shall, in accordance with actuarial principles, methods, and assessment of reserves extracted in full and accurate and in accordance with the relevant regulations of the China insurance regulatory Commission, and carry down various reserves.
    Article 24th solvency reports of insurance companies involved in the reinsurance business, shall meet the requirements for solvency reporting rules on reparation.
    25th branch of a foreign insurance company's solvency, and solvency in accordance with the Head Office finds.
    Branch of a foreign insurance company reinsurance premiums are limited to their company directly authorized amount.
    26th article directly insurance company should in annual March 31 yiqian, to China Circ submitted following material: (a) except aviation space insurance, and nuclear insurance, and oil insurance, and credit insurance outside, Shang a annual handle contracts points insurance and temporary points insurance of, each dangerous units points to with a again insurance points into company of business, over directly insurance business insurance amount or responsibility limit 50% of trading situation; (ii) Shang a annual contracts points insurance in the, points to the again insurance points into company of share;
    (Three) Shang a annual insurance brokers and outside again insurance points into company list; (four) property insurance company this year again insurance arrangements plans, including points insurance policy, and contracts points insurance situation, and dangerous units divided standard and each dangerous units of retained limit; (five) life insurance company this year again insurance arrangements plans of changes situation; (six) this year select outside again insurance points into company of conditions and standard.
    27th insurance company shall, before April 30 of each year, submit the following to the CIRC report: (I) reinsurance business last year; (b) signed by the actuarial liabilities and related reinsurance business of all kinds of extraction methods and amount of the reserve.
    28th direct insurance companies should be significant insurance claims and reinsurance arrangements, reinsurance policy, the significant adjustment of timely reporting to the Circ.
    Significant insurance claims referred to in the preceding paragraph refers to an insurance incident, more than 50 million yuan in compensation for loss of property or personal injury compensation claims in the more than 30 million Yuan. 29th article foreign again insurance company branch should according to following requirements to China Circ submitted about report: (a) in annual July 30 yiqian, submitted its corporation registered to insurance regulatory institutions according to local legal issued of, and about its Corporation paid capacity status of submissions or business status submissions; (ii) in annual December 31 Qian, submitted its Corporation Xia a annual authorized of bearing insurance permission and retained premium lines; (three) in annual January 31 and July 30 yiqian,
    Submit reports on retrocession business, including reinsurance company names, business types, contract forms, Cedant, and recovered compensation recovered charges.
    Article 30th for reinsurance business shall, in accordance with provisions of the China insurance regulatory Commission, to submit timely and accurate insurance statistics and other information on reinsurance business.
    31st Insurance Association shall, before March 31 of each year, report to the China insurance regulatory Commission in the previous year's financial reports, business reports, and to reinsure outside China. 32nd fifth chapter legal liability insurance company in violation of the provisions of reinsurance business, by the China insurance regulatory Commission ordered corrective action, and a fine of 50,000 yuan and 300,000 yuan fine; the circumstances are serious, you can limit the scope of business, shall be ordered to stop accepting new business business or revoke their business licenses.

    Violations of these provisions are directly responsible for reinsurance business insurance senior management staff and other persons, the CIRC may be warned in different circumstances, shall be ordered to be removed, a fine of 20,000 yuan and 100,000 yuan fine. Sixth chapter supplementary articles article 33rd insurer for reinsurance business in the light of policy application of this provision.
    These provisions are not applicable, policy-oriented insurance company shall, within 3 months from the date of release of this provision the CIRC report thereon.
    34th article of the CIRC is responsible for interpretation.
                      35th article of the regulations come into force on December 1, 2005.