Generally speaking, insurance companies are supervised by the China Banking and Insurance Regulatory Commission.

The China Banking and Insurance Regulatory Commission (hereinafter referred to as the "Bank and Insurance Regulatory Commission") is the competent authority for the banking and insurance industries nationwide. It maintains the legal and stable operation of the banking and insurance industries and is a ministerial-level unit.

Not only that, my country’s insurance regulatory agency is the China Banking and Insurance Regulatory Commission, which was established in 2018. It is an institution directly under the State Council. Its main responsibility is to uniformly supervise and manage the banking and insurance industries in accordance with laws and regulations, and maintain the legal and stable operation of the banking and insurance industries. , prevent and resolve financial risks, protect the legitimate rights and interests of financial consumers, and maintain financial stability.

There are also many contents of insurance supervision, mainly including: market access supervision, company equity change supervision, corporate governance supervision, internal control supervision, asset and liability supervision, capital adequacy and solvency supervision, insurance transaction behavior supervision, online insurance supervision, reinsurance

Regulation, regulation of financial derivatives, etc.

: In order to protect the rights and interests of consumers, the China Banking and Insurance Regulatory Commission has always had very strict requirements on insurance companies. The following are some of the requirements of the China Banking and Insurance Regulatory Commission on insurance companies: 1. C-ROSS supervision system.

China's second-generation solvency regulatory system evaluates solvency every quarter, and the minimum solvency must be above 100%.

2. Insurance liability reserves.

Insurance companies are regulated and must set aside a sum of money each year to pay out claims in case of emergencies.

So how much money should you set aside?

This needs to be determined by evaluating the specific operating conditions of the insurance company and conducting actuarial calculations.

3. Insurance protection fund.

Every insurance company needs to pay money to the China Banking and Insurance Regulatory Commission to coordinate the insurance protection fund for emergency use, which can be understood as a mutual aid fund between insurance companies.

4. Reinsurance system.

An insurance company sells a policy and through "reinsurance" can transfer some of the risks and liabilities it insures to other insurance companies.

The function of reinsurance is to spread risk.

For example, in the huge explosion in Tanggu, Tianjin in 2015, the insurance industry lost more than 10 billion. Fortunately, they all have reinsurance.