Insurance Services Company

Specific Arrangements for CEPA

Hong Kong and Macau service suppliers are permitted to establish wholly-owned enterprises and joint ventures in the Mainland to provide agency services to the Mainland insurance companies.

Requirements for Service Suppliers

More than 30 years in running insurance business
A representative office established in mainland for over 2 years
Total assets as at the end of the preceding year before application shall not be less than USD5 billion
Subject to the supervision of local competent authority
Meet local solvency standard
Approval of their application from local competent authority
Other conditions as required by China Insurance Regulatory Commission

Required Documents

Application for incorporation, which shall be jointly signed by each party’s legal representative for the joint venture
Business license
Proof of solvency standard and letter of opinions on the application from local competent authority
Articles of association
Annual reports for the last 3 years
Related documents of Chinese applicant for the joint venture
Feasibility study report
Proposal for establishment and preparation, list of person-in-charge, their curriculum vitae, and certificates of qualification
Certificates of service suppliers
Other documents as required by China Insurance Regulatory Commission