1. Formulate policies and policies for the development of the insurance industry, and formulate industry development strategies and plans; Drafting insurance supervision laws and regulations; Formulate industry regulations;

2. To examine and approve the establishment of insurance companies and their branches, insurance group companies and insurance holding companies; To examine and approve the establishment of insurance asset management companies in conjunction with relevant departments; Examining and approving the establishment of representative offices of overseas insurance institutions; To examine and approve the establishment of insurance agencies, insurance brokerage companies, insurance assessment companies and other insurance intermediaries and their branches; Examining and approving domestic insurance institutions and non-insurance institutions to set up insurance institutions overseas; To examine and approve the merger, division, change and dissolution of insurance institutions, decide to take over and designate acceptance; Participate in and organize the bankruptcy and liquidation of insurance companies;

3, review and identify the qualifications of senior managers of various insurance institutions; Formulate basic qualification standards for insurance practitioners;

4. Examining and approving the insurance clauses and premium rates of insurance products related to public interests, insurance products subject to compulsory insurance according to law and newly developed life insurance products, and managing the insurance clauses and premium rates of other insurance products filed;

5. Supervise the solvency and market behavior of insurance companies according to law; Responsible for the management of the insurance guarantee fund and supervise the insurance deposit; To formulate relevant rules and regulations according to laws and national policies on the use of insurance funds, and supervise the use of funds by insurance companies according to law;

6. Supervise the policy insurance and compulsory insurance business; Supervise the organizational forms and business activities such as exclusive self-insurance and mutual insurance. Centralized management of insurance industry associations, insurance societies and other industry associations;

7. Investigate and deal with illegal acts such as unfair competition between insurance institutions and insurance practitioners, as well as acts of non-insurance institutions operating or operating insurance business in disguised form;

8. Supervise insurance institutions established overseas by domestic insurance and non-insurance institutions according to law;

9. Formulate information standards for the insurance industry; Establish an insurance risk assessment, early warning and monitoring system, track, analyze, monitor and predict the operation of the insurance market, be responsible for uniformly compiling national insurance data and statements, and publish them in accordance with relevant state regulations;

10, to undertake other tasks assigned by the State Council.

Legal basis: Article 9 of People's Republic of China (PRC) Insurance Law.

The State Council insurance supervision and administration institutions shall be responsible for the supervision and administration of the insurance industry in accordance with this Law.

Article 72

The establishment of an insurance company shall meet the following conditions:

(1) Having articles of association that conform to the provisions of this Law and the Company Law;

(2) It has a registered capital meeting the minimum amount stipulated in this Law;

(3) Having senior managers with professional knowledge and professional work experience;

(4) Having a sound organizational structure and management system;

(5) Having business premises and other business-related facilities that meet the requirements.

When examining the application for establishment, the insurance supervision and administration institution shall consider the needs of the development of the insurance industry and fair competition.