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Chapter 11 Structure of Insurance Company

Chapter 11 Structure of Insurance Company. Content. 1. The Structure of Insurance Companies in China 2. Insurance Companies in Foreign Countries. 3. Insurance Companies as Financial Institutions 4. Types of Insurance Company Organizations 5. Organizational Operations.

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Chapter 11 Structure of Insurance Company

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  1. Chapter 11 Structure of Insurance Company

  2. Content 1. The Structure of Insurance Companies in China • 2. Insurance Companies in Foreign Countries. • 3. Insurance Companies as Financial Institutions • 4. Types of Insurance Company Organizations • 5. Organizational Operations

  3. 1. The Structure of Insurance Companies in China • According China’s Insurance Law, an insurance company shall be established as either a stock company with limited liability or a sole state-owned enterprise. If you want to establish an insurance company, you should satisfy with the following conditions.

  4. Article of Association in accordance with this Law and the Company Law  A minimum registered capital as prescribed in the Law (RMB 200,000,000) Conditions  Senor management with professional knowledge and operational experience  A sound organizational structure and management system

  5. 1.1 The organizational structure of an insurance company A Board of Supervisors Representatives from the financial supervision and regulation department Relevant experts employees of the insurance company.

  6. People’s Insurance Company of China (PICC) was established in Beijing on October 20, 1949.  China Pacific Insurance Company (CPIC), was developed in1987, Major companies • Ping An Insurance Company of China. PAICC is the first joint-stock company. It was established in Shenzhen in1988.

  7. Many smaller companies set up in recent years: • New China Life Insurance Company, Ltd • Tai Kang Life Insurance Company, Ltd. • China United Insurance Company • Sino-safe General Insurance Company, Ltd • Yong An Property Insurance Company, Ltd • Tian An Insurance Company Limited of China • Hua Tai Insurance Company of China, Ltd • Da Zhong Insurance Company, Ltd ……

  8. Insurance Companies in Foreign Countries

  9. 3. Insurance Companies as Financial Institutions • Insurance companies are parts of financial service industry The mixture of the financial institutions

  10. 4. Types of Insurance Company Organizations • Stock insurance companies Mutual insurance companies

  11. 5. Organizational Operations • Home office Regional office

  12. The End of Chapter 11 Next Chapter

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