1. The construction of my country’s insurance regulatory system has achieved positive results. With the development of my country’s insurance industry, the insurance regulatory system and mechanisms have also changed several times.

In January 1950, the insurance industry was clearly managed by the People's Bank of China.

In 1952, the insurance industry was placed under the management of the Ministry of Finance.

In 1959, the insurance industry was once again placed under the leadership of the People's Bank of China.

In 1965, the People's Bank of China and the Ministry of Finance clarified that domestic insurance business was managed by the Ministry of Finance, and international insurance business was managed by the People's Bank of China.

After the reform and opening up, the People's Bank of China was responsible for unified insurance supervision.

In November 1998, in accordance with the guidelines of the Party Central Committee and the State Council on "separate operation and separate supervision" of the financial industry, the China Insurance Regulatory Commission was formally established to uniformly supervise and manage the national insurance market in accordance with the law, marking the professionalization of my country's insurance supervision. , a new stage of standardization, my country’s insurance regulatory system continues to develop and improve.

(1) Supervision and regulations are constantly improving.

Our country has initially formed an insurance regulatory system consisting of four levels, with relevant laws as the core, administrative regulations as the support, departmental regulations as the backbone, and normative documents as the supplement.

One is the legal aspect.

The Insurance Law was officially promulgated in 1995 and revised twice in 2002 and 2009, improving the basic norms of insurance business conduct and the framework of insurance supervision entities.

The Maritime Law and the Criminal Law also stipulate marine insurance and insurance crimes respectively.

The second is the level of administrative regulations.

The State Council promulgated the "Regulations on Property Insurance Contracts" in 1983 and the "Interim Regulations on the Management of Insurance Enterprises" in 1985.

After joining the WTO, the State Council promulgated the "Regulations on the Administration of Foreign-Invested Insurance Companies" in 2001, the "Regulations on Compulsory Motor Vehicle Traffic Accident Liability Insurance" in 2006, and the "Regulations on Agricultural Insurance" in 2012, which regulate some aspects of insurance operations and management.

Key areas have been specially regulated.

The third is the level of departmental regulations.

The China Insurance Regulatory Commission has currently 50 effective departmental regulations, which are roughly divided into six aspects: business entities, product rates, capital utilization, professionals, solvency, and administration according to law, which have consolidated the institutional foundation for insurance supervision.

The fourth is the level of normative documents.

The China Insurance Regulatory Commission and its local agencies have formulated a large number of normative documents based on the actual supervision, and have played an important role in strengthening and improving supervision.

(2) The supervision system has been initially formed.

The national financial regulatory arrangements were conscientiously implemented, and the construction of the insurance regulatory system made positive progress.

First, the regulatory framework is gradually improved.

In the early days of reform and opening up, insurance supervision focused on market conduct supervision.

The "Insurance Law" promulgated in 1995 first proposed the concept of solvency. After the establishment of the China Insurance Regulatory Commission in 1998, it proposed to pay equal attention to market conduct supervision and solvency supervision.

With the implementation of joint-stock reform of state-owned insurance companies, the China Insurance Regulatory Commission issued indicator regulations in 2003, and solvency supervision took a substantial start.

As insurance companies established a modern enterprise system and went public, the China Insurance Regulatory Commission issued guidance in 2006 to formally introduce corporate governance supervision, explore the establishment of a regulatory framework with solvency, corporate governance, and market behavior as the pillars, and established the Solvency Supervision Committee in 2009.

Corporate Governance Oversight Committee.

Under the new situation, the China Insurance Regulatory Commission launched the construction of the second-generation solvency supervision system in 2012.

In accordance with the regulatory reform trends after the international financial crisis, corporate governance supervision will be strengthened.

Second, the regulatory organization has been gradually improved.

The China Insurance Regulatory Commission currently has 16 functional departments and 2 public institutions.

Since 2000, the China Insurance Regulatory Commission has successively established 36 insurance regulatory bureaus in parallel in various provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning.

In order to strengthen market supervision at the grassroots level, the China Insurance Regulatory Commission established regional insurance regulatory branches on a pilot basis in five prefecture-level cities: Suzhou, Yantai, Shantou, Wenzhou and Tangshan in 2010.

Third, the regulatory structure is gradually established.

Strengthen communication and cooperation with party and government departments, judicial organs, and other financial regulatory agencies, promote social organizations to play self-discipline, rights protection, coordination and other roles, support the news media, accounting and auditing, rating agencies, consumers, etc. to play a supervisory role, and initially formed a

A large regulatory structure of professional supervision, departmental work, industry standards, and social supervision.

(3) Supervision means are becoming increasingly abundant.

Continuously innovate and enrich supervision methods and methods, and the execution and effectiveness of supervision have been improved.

First, it is classified supervision.

Classified supervision of insurance companies is implemented from aspects such as solvency, corporate governance, internal control and compliance, finance, capital utilization, and business operations, which improves supervision efficiency.

The second is off-site supervision.

Establish an insurance supervision statistical system, accumulate insurance data assets, strengthen monitoring, analysis, and early warning of market operations and insurance risks, and improve the effectiveness of off-site supervision.

Promote the informatization construction of the insurance industry and insurance supervision, establish the "three networks and one database" infrastructure, develop 25 application systems such as the insurance statistical information system, establish an insurance information platform company, and promote the construction of supervisory e-government affairs.

The third is on-site inspection.

Develop on-site inspection procedures and manuals to standardize inspection procedures and standards.

Use information technology to improve on-site inspection efficiency.

Organize and carry out comprehensive, systematic and special inspections to improve the pertinence of on-site inspections.

Increase penalties for violations of laws and regulations, implement "double penalties" for insurance institutions and senior executives, and improve regulatory deterrence.

The fourth is information disclosure.

Establish an insurance information disclosure system and leverage platforms such as the China Insurance Regulatory Commission’s official website, press conferences, Weibo and WeChat, and industry websites to promptly release information such as insurance news, statistics, administrative licenses, and penalties.

The fifth is other means.