Chapter 11 Structure of Insurance Company

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Chapter 11 Structure of Insurance Company
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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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1. The Structure of Insurance Companies in China

• According Chinas 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.

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? 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
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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.

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• Peoples 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.

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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
• 
  

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Insurance Companies in Foreign Countries
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3. Insurance Companies as Financial Institutions

• Insurance companies
• are parts of financial
• service industry

? The mixture of the financial
institutions
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4. Types of Insurance Company Organizations

• Stock insurance
• companies

? Mutual insurance companies
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5. Organizational Operations

• Home office

? Regional office
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The End of Chapter 11
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