Circular on Issues Concerning the Adjustment of Charging Standards of Insurance Business Supervision and Administration Fees
Circular on Issues Concerning the Adjustment of Charging Standards of Insurance Business Supervision and Administration Fees
Circular on Issues Concerning the Adjustment of Charging Standards of Insurance Business Supervision and Administration Fees
Bao Jian Fa [2012] No. 10
January 29, 2012
All insurance regulatory bureaus, insurance companies, insurance assets management companies, insurance intermediary organizations and offices of foreign insurance organizations,
In accordance with the provision of the Circular of the National Reform and Development Commission and the Ministry of Finance on Reducing the Charging Standards of Insurance Business Supervision and Administration Fees (Fa Gai Jia Ge [2011] No. 3228), we hereby adjust the imposition scope, charging standards, charging methods and the like of insurance business supervision and administration fees.
I. Imposition Scope of Insurance Business Supervision and Administration Fees
China Insurance Regulatory Commission (CIRC) may, after approval, impose insurance business supervision and administration fees on the following supervised organizations:
1. Different commercial insurance companies;
2. Organizations specializing in insurance intermediary business;
3. Offices of foreign insurance organizations; and
4. Insurance assets management companies.
II. Charging Standards of Insurance Business Supervision and Administration Fees
1. Reduce the Insurance Business Supervision and Administration Fees Imposed on Insurance companies
(1) As for liability insurance business and short-term health insurance business operated by insurance companies, the charging standard of the insurance business supervision and administration fees shall be decreased from 1.6‰ to 1.3‰ of the annual retained premiums of the insurance company; for other property insurance business and personal casualty insurance business, the charging standard of the insurance business supervision and administration fees shall be decreased from 1.7‰ to 1.45‰ of the annual retained premiums of the insurance company.
(2).
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