There are two main business entities in the insurance market: one is the supplier of insurance products, the so-called insurer; The other is an insurance intermediary that plays an auxiliary role in promoting insurance transactions.

An insurer refers to an insurance company that enters into an insurance contract with the applicant and undertakes the responsibility of compensation or payment of insurance benefits.

There are many forms of insurance intermediaries, including insurance agents, insurance brokers and insurance assessors.

An insurer refers to an insurance company that enters into an insurance contract with the applicant and undertakes the responsibility of compensation or payment of insurance benefits. Insurers are generally legal persons, but there are also cases where natural persons act as insurers, such as Lloyd's in Britain. China's newly revised Insurance Law stipulates that insurance companies take the form of joint-stock limited companies and limited liability companies, and policy insurance companies and insurance organizations in the form of mutual aid and cooperation shall be separately stipulated by laws and administrative regulations. This means that the diversification of organizational forms of insurance companies in China has been recognized by law.

The main body of the insurance market refers to the participants in the trading activities of the insurance market, including the supplier, the demander and the intermediary between the supplier and the demander.

The insurance market, like other markets, is a place to trade goods or services. As far as the components of the general market are concerned, as long as there are suppliers and demanders, the transaction of goods or services can be completed. The two forces of supply and demand interact to jointly promote the development of the market. The characteristics of the insurance market determine that the components of the insurance market are more complicated than in the general sense. In addition to the insurance supplier and the insurance demander, there are also insurance intermediaries that provide services for the supply and demand sides to complete transactions.

The main body of the insurance market presents the following new characteristics and trends.

(1) The insurance market is characterized by rich types of subjects and obvious diversification, which requires the corresponding corporate governance structure to match them.

(2) The main body of the insurance market has been restructured and the insurance group (holding company) has been established, but there is still a long way to go to establish and improve the corporate governance structure.

(3) When insurance companies start to enter the capital market, they need to establish a mechanism combining incentives and constraints.

Legal basis:

People's Republic of China (PRC) insurance law

Article 10 An insurance contract is an agreement between the applicant and the insurer to stipulate the insurance rights and obligations.

The applicant refers to the person who has entered into an insurance contract with the insurer and has the obligation to pay the insurance premium according to the contract.

An insurer refers to an insurance company that has entered into an insurance contract with the applicant and is liable for compensation or payment of insurance benefits according to the contract.

Article 117 An insurance agent is an institution or individual that accepts the commission from the insurer and handles insurance business on its behalf within the scope authorized by the insurer.

Insurance agencies include professional insurance agencies specializing in insurance agency business and part-time insurance agencies engaged in insurance agency business.

Article 118 An insurance broker is an institution that provides intermediary services for the applicant to conclude an insurance contract with the insurer based on the interests of the applicant, and collects commissions according to law.