Often within my usual work I have to review some Partnership Agreements and Cooperation Agreements between my Chinese clients and their foreign investors. A reoccurring problem that worries my clients and their foreign investors, which results in me having to explain the Chinese regulations, is that in their Partnership Agreement the foreign investors want to send their personnel to assume positions at the Chinese Insurance Company they have invested in. In my personnel opinion, it is not an extreme request for them to administrate or manage the insurance institution to some extent. This said, it still has to be made clear that there are some limitations and qualification requirements, imposed by (CIRC), for the personnel to hold certain positions in Insurance Institutions. In relation to this problem, there are some provisions promulgated by CIRC for reference, such as the Administration of Appointment Qualification for Directors and Senior Management Personnel of Insurance Companies Provisions, the Administration of Appointment Qualification for Senior Management Personnel of Insurance Companies Provisions, and some Amendment Decisions.
Continue Reading The Appointment Qualification for the Senior Management Personnel in Insurance Institutions