In 2008, the China Banking Regulatory Commission, the Ministry of Finance and the Central Bank issued and implemented the Measures for the Administration of Insurance Protection Funds, and China Insurance Protection Fund Co., Ltd. was formally established. It is a wholly state-owned enterprise and a non-profit enterprise legal person.

The main business scope of China Insurance Protection Fund Co., Ltd. includes raising, managing and operating insurance protection funds, detecting and evaluating insurance risks, and managing and disposing compensatory assets.

state of play

2065438+In July 2009, with the approval of China Banking Regulatory Commission, China Insurance Guarantee Fund Co., Ltd., sinopec group and Shanghai Automotive Industry (Group) Corporation jointly established Renren Insurance Group Co., Ltd.

The nine members of the board of directors of China Insurance Protection Fund Co., Ltd. are from China Insurance Regulatory Commission, Ministry of Finance, Central Bank, Legislative Affairs Offices of State Taxation Administration of The People's Republic of China and the State Council, and three insurance companies. The company held the first meeting of the first board of directors on June 5th, 2005, and the board of directors decided to hire the former inspector of the accounting department of China Insurance Regulatory Commission as the president of the company.