Chapter I General Provisions

Article 1 These rules are formulated in accordance with the "Insurance Law of the People's Republic of China", and for the purpose of strengthening the administration of representative offices of foreign insurance institutions (hereinafter referred to as "representative offices"), and meeting the needs of the opening up of China's insurance market to the outside world.

Article 2 Foreign insurance institutions hereof referred to in these rules are those insurance companies, reinsurance companies, insurance intermediaries, insurance associations, and other insurance organizations incorporated outside the territory of the People's Republic of China.

Representative offices hereof referred to in these rules are both representative offices and general representative offices established by foreign insurance institutions within Chinese territory for the purpose of conducting such non-operational activities as liaison service and market research etc.

Chief Representative hereof referred to in these rules is the principal responsible person of the representative office, and the general representative is the principal responsible person of the general representative office.

Article 3 Representative offices shall abide by Chinese laws and regulations and related regulations made by China Insurance Regulatory Commission (hereinafter referred to as "CIRC") and their legitimate rights and interests are protected by Chinese laws.

Article 4 CIRC is authorized by law and the State Council to perform regulatory responsibilities over the representative offices.

Under the authorization scope of CIRC, the local branch offices of CIRC take general regulation of those representative offices that are located in their jurisdictions on behalf of CIRC.

Chapter Ⅱ Application and Establishment

Article 5 Foreign insurance institutions (hereinafter referred to as "the applicant") applying to establish a representative office shall satisfy the following requirements:

(1) Good business performance;
(2) No record of any major violation of laws and regulations within three years prior to the application date;
(3) Other prudential requirements stipulated by IRC.

Article 6 The formal application form for the establishment of representative office is provided by IRC.

Article 7 The applicant shall submit the following documents:

(1) The formal application form;
(2) A letter of application addressed to the Chairman of CIRC and signed by its Chairman of the Board of Directors or General Manager of the concerned insurance institution;
(3) A photocopy of the business license or the certificate of authorization for insurance business, or the registry certificate issued by the relevant regulatory authorities of its home country or territory;
(4) Articles of association and the name list of the members of the Board of Directors, management personnel or principal partners;
(5) Annual reports of the last three years prior to the application;
(6) A letter of permit issued by the competent authority of its home country or territory allowing it to set up a representative office in China
(7) A power of attorney signed by the Chairman of the Board or General Manager for the chief representative designated;
(8) The resume of the designated chief representative and other relevant supporting documents;