The Financial Regulatory Authority system has investigated and revoked the licenses of 60 insurance brokerage companies.

LightningPacketLoss · 2026-03-04T03:43:03+00:00

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

LightningPacketLoss

2026-03-04 03:43:03

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On February 27, the website of the China Banking and Insurance Regulatory Commission announced that to thoroughly implement the spirit of the Central Financial Work Conference, the Financial Regulatory Commission will adhere to strict regulation and oversight. Starting in 2024, it will carry out actions to clean up, standardize, and improve the insurance intermediary market. The commission will lawfully and systematically phase out insurance intermediary institutions that do not meet regulatory requirements or operate abnormally, strictly investigate illegal activities, and revoke business licenses of institutions that severely disrupt market order. From 2024 to 2025, a total of 3 insurance intermediary groups will be deregistered or revoked, along with 57 professional insurance intermediary legal entities; 3,730 branches of professional insurance intermediaries will be phased out, and 226 insurance agency institutions will be eliminated.

Next, the Financial Regulatory Commission will continue to thoroughly implement the decisions and deployments of the Party Central Committee and the State Council. Focusing on risk prevention, strengthened regulation, and promoting high-quality development, it will diligently improve insurance intermediary supervision, perfect regulatory systems, and continuously advance the cleaning, standardization, and quality improvement of insurance intermediaries. The commission aims to optimize the structure of the insurance intermediary market, enhance the professional capabilities and informatization of insurance agencies, deepen reforms in insurance agency operations, promote high-quality development of insurance intermediaries, and help improve the quality and efficiency of financial services.

(China Banking and Insurance Regulatory Commission)

Editor: Qian Xiaorui

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