According to a report, on November 6, the National Financial Regulatory Administration (NFRA) released a draft for public comment on the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies, with feedback due by December 6, 2026.
The draft measures consist of six chapters and sixty-six articles. The main contents include: first, establishing the general provisions for the administration of qualification requirements for insurance companies. It clarifies the division of responsibilities between the NFRA and its dispatched offices regarding the administration of qualification requirements, and defines the scope of senior executives of insurance companies.
Second, detailing the qualification conditions for directors, supervisors and senior executives. It stipulates that directors, supervisors and senior executives of insurance companies must meet basic requirements such as integrity, diligence and probity, as well as the economic and financial work experience and professional qualification conditions required for different positions according to their responsibilities. It also specifies the circumstances under which qualification approval will not be granted.
Third, clarifying the procedures for qualification approval and reporting. It standardizes the reporting entities and approval procedures for approval matters and reporting matters, revises and refines the list of application materials, and improves the reporting requirements for situations such as lateral transfers at the same level.
Fourth, setting out the supervisory and management requirements for directors, supervisors and senior executives. It clarifies the management requirements for insurance companies and regulatory authorities after qualification approval, and regulates situations such as acting on behalf of others in performing duties.
Fifth, defining relevant legal liabilities. It specifies the circumstances related to non-approval, revocation of qualifications and industry bans.
The full text is as follows: Announcement of the National Financial Regulatory Administration on Seeking Public Comments on the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies. To further improve the access management for directors, supervisors and senior executives in the insurance industry, the National Financial Regulatory Administration has revised and formed the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies (Draft for Comment), and is now seeking public comments. The public may submit feedback through the following channels and methods: 1. Send comments via email to: zrszdc@nfra.gov.cn, and please indicate "Comments on the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies" in the email subject line. 2. Send comments by letter to: Access Department, National Financial Regulatory Administration, No. 15A Financial Street, Xicheng District, Beijing, and please indicate "Comments on the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies" on the envelope. The deadline for feedback is December 6, 2026. National Financial Regulatory Administration, November 6, 2026. The National Financial Regulatory Administration Seeks Public Comments on the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies (Draft for Comment). To further improve the access management for directors, supervisors and senior executives of insurance companies, the NFRA has revised and formed the Measures for the Administration of the Qualifications of Directors, Supervisors and Senior Executives of Insurance Companies (Draft for Comment) (hereinafter referred to as the Measures), and is now seeking public comments. The Measures consist of six chapters and sixty-six articles. The main contents include: first, establishing the general provisions for the administration of qualification requirements for insurance companies. It clarifies the division of responsibilities between the NFRA and its dispatched offices regarding the administration of qualification requirements, and defines the scope of senior executives of insurance companies. Second, detailing the qualification conditions for directors, supervisors and senior executives. It stipulates that directors, supervisors and senior executives of insurance companies must meet basic requirements such as integrity, diligence and probity, as well as the economic and financial work experience and professional qualification conditions required for different positions according to their responsibilities. It also specifies the circumstances under which qualification approval will not be granted. Third, clarifying the procedures for qualification approval and reporting. It standardizes the reporting entities and approval procedures for approval matters and reporting matters, revises and refines the list of application materials, and improves the reporting requirements for situations such as lateral transfers at the same level. Fourth, setting out the supervisory and management requirements for directors, supervisors and senior executives. It clarifies the management requirements for insurance companies and regulatory authorities after qualification approval, and regulates situations such as acting on behalf of others in performing duties. Fifth, defining relevant legal liabilities. It specifies the circumstances related to non-approval, revocation of qualifications and industry bans. All sectors of society are welcome to offer valuable opinions. The NFRA will carefully study the feedback from all parties, further revise and improve the Measures and release and implement them in due course.
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