v50 million insurance brokerage companies registered across the country

Great Wisdom News Agency learned from the China Insurance Regulatory Commission on Thursday (3rd) that the China Insurance Regulatory Commission has successively approved the establishment of three insurance brokerage companies, namely Qianhai Century Insurance Brokerage Co., Ltd., Qianhai Mintai'an Insurance Brokerage Co., Ltd. and Zhongcheng Huafeng Insurance Brokerage Co., Ltd. company. It is worth mentioning that the registered capital of the above-mentioned insurance brokerage companies is RMB 10,000. This is related to the China Insurance Regulatory Commission's vigorous efforts to rectify the insurance intermediary market in the first half of this year. In March 2020, the China Insurance Regulatory Commission issued the Decision on Amending the Regulations on the Supervision of Insurance Brokers and the Decision on Amending the Regulations on the Supervision of Professional Insurance Agencies, and also issued the Decision on Further Clarifying Issues Related to the Market Access of Professional Insurance Intermediaries. notify". The two "Decisions" will increase the registered capital requirements for the establishment of professional insurance agencies and insurance brokerage companies to RMB 10,000, unless otherwise specified by the China Insurance Regulatory Commission.
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