Insurance Association of China
Established in February 23, 2001, the Insurance Association of China (hereinafter referred to as IAC) is a non-profit social organization and a national self-regulatory organization that was approved by the former China Insurance Regulatory Commission and registered in the Ministry of Civil Affairs of China. The IAC is committed to five major responsibilities: Self Discipline, Rights Protection, Member Services, Communication & Cooperation, and Industrial Promotion.
By the end of 2017, there were 377 members in the IAC, including 12 group (holding) companies, 82 property insurance companies, 82 life insurance companies, 10 reinsurance companies, 14 asset management companies, 105 insurance brokerage companies; 43 local insurance associations (including local insurance intermediary associations) and other 29 insurance-related institutions.
Currently, the IAC has established 31 branch organizations, such as Internet Insurance Club, Information Technology Committee, and Statistics Committee etc. The IAC is led by the following guideline: Abiding by China’s Constitution, laws and regulations, economic and financial policies, and social morals, also complying with Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, the Scientific Outlook on Development, Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and the Insurance Law of People’s Republic of China, the IAC will work with insurance regulatory authorities to supervise members’ self-discipline, serve members’ needs, protect members’ interests, promote an open and fair market, boost the development of insurance industry, and comprehensively contribute to the improving of the insurance industry’s capabilities in serving real economy, preventing and controlling financial risks, and deepening financial reform.