The Financial Regulatory Authority system has revoked or canceled the licenses of 60 insurance professional intermediary corporations through procedures including revocation and deregistration.

LightningPacketLoss · 2026-03-28T06:16:07+00:00

The National Financial Regulatory Administration will launch a cleanup campaign for the insurance intermediary market in 2024, focusing on removing non-compliant institutions. The plan includes investigating and revoking multiple insurance intermediary licenses, while strengthening supervision, promoting high-quality development, and optimizing market structure.

LightningPacketLoss

2026-03-28 06:16:07

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On February 27, the website of the National Financial Supervision and Administration Bureau announced that in order to thoroughly implement the spirit of the Central Financial Work Conference, the Financial Supervision Bureau will adhere to strict regulation. Starting in 2024, it will carry out actions to clear, standardize, and improve the insurance intermediary market, legally and in accordance with regulations, categorically and step-by-step eliminating insurance intermediary institutions that do not meet regulatory requirements or are operating abnormally, and seriously investigating and punishing illegal and irregular activities. For institutions that severely disrupt market order, business licenses will be revoked according to the law. From 2024 to 2025, a total of three insurance intermediary groups and 57 insurance professional intermediary legal entities will be investigated, and 3,730 branches of insurance professional intermediaries and 226 insurance industry agents will be eliminated.

Next, the Financial Supervision Bureau will continue to thoroughly implement the decisions and deployments of the Party Central Committee and the State Council, focusing on risk prevention, strong regulation, and promoting high-quality development. It will effectively carry out insurance intermediary supervision work, improve the regulatory system for insurance intermediaries, continuously promote the clearing and quality enhancement of insurance intermediaries, optimize the market structure of insurance intermediaries, encourage insurance intermediary institutions to strengthen professional capabilities and information technology construction, deepen the reform of insurance industry agents, and promote the high-quality development of insurance intermediaries, contributing to improving the quality and efficiency of financial services.

(National Financial Supervision and Administration Bureau)

(Editor: Qian Xiaorui)

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