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| Notice of China Insurance Regulatory Commission on Strengthening the Information Disclosure of the Reinsurance Transactions between Foreign-funded Insurance Companies and Their Affiliated Enterprises | | 中国保险监督管理委员会关于加强外资保险公司与关联企业从事再保险交易信息披露工作的通知 |
(No. 116 [2006] of China Insurance Regulatory Commission) | |
(保监发〔2006〕116号) |
All foreign-funded insurance companies: | |
各外资保险公司： |
In order to strengthen the supervision and administration of the reinsurance transactions between foreign-funded insurance companies and their affiliated enterprises, this Commission decides to further raise the requirements on the disclosure of the relevant information. We hereby notify the specific contents as follows: | |
为加强对外资保险公司与关联企业从事再保险交易的监管，我会决定进一步提高相关信息披露要求，现将具体内容通知如下： |
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| 1. Where a foreign-funded insurance company has transactions of facultative reinsurance (including facultative obligatory reinsurance) with its affiliated enterprises, it shall, within 30 days upon the end of each quarter, report all the transactions of facultative reinsurance which become effective within the quarter to China Insurance Regulatory Commission. The report shall include: | | 一、外资保险公司与其关联企业之间安排临时分保（包括预约分保）的，应于每季度结束后30天内将在该季度生效的每笔临时分保情况报告中国保监会。报告应包括以下内容： |
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| (1) Particulars of the inquiries and the offers of its opponents; | | （一）询价过程以及对手的报价情况； |
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| (2) Reasons for choosing these affiliated enterprises; | | （二）选择关联企业的原因； |
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| (3) Major reinsurance terms, including the insurance products involved, the risk status of the insurance objects, form of reinsurance, and the premium ceded in or out; | | （三）主要分保条件，包括涉及的险种、保险标的风险状况、再保险方式、分入或分出保费； |
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| (4) Explanation on whether the insurance liabilities undertaken by the ceding party and the ceded party are the same; | | （四）说明再保险分入分出双方承担的保险责任是否相同； |
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| (5) Amount of the premium ceded in or out, mode of payment and amount of commission charge as for a proportional reinsurance; and | | （五）比例分保的分入或分出保险金额、手续费支付方式及金额； |
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| (6) Arrangement of all the proportional reinsurances related to a non-proportional reinsurance. | | （六）与非比例分保相关的所有比例分保安排情况。 |
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| 2. Where a foreign-funded insurance company has any transaction of contract reinsurance with any of its affiliated enterprises, it shall report it to China Insurance Regulatory Commission within three months since the day when the contract becomes effective. The report shall contain: | | 二、外资保险公司与其关联企业之间安排合约分保的，应于合约生效后3个月内报告中国保监会。报告应包括以下内容： |
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| (1) Particulars of the inquiries and the offers of its opponents; | | （一）询价过程以及对手的报价情况； |
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| (2) Reasons for choosing this affiliated enterprise; | | （二）选择关联企业的原因； |
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| (3) Major reinsurance terms, including the insurance products involved and the form of reinsurance; | | （三）合约的主要条件，包括涉及的险种、再保险方式； |
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| (4) Amount and mode of payment of commission charge as for a proportional reinsurance, the calculating method and mode of payment of profit commission; | | （四）比例分保的手续费及其支付方式、纯益手续费的计算方法及其支付方式； |
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| (5) As for a proportional reinsurance, if the insurance liabilities undertaken by the ceding party and the ceded party are not the same, a pricing report signed by a responsible actuary or provided by a third party (such as an actuarial consultation company, same as below) shall be submitted, which shall include the insurance liabilities of both the ceding party and the ceded party, the pricing of the original guarantee slip and the pricing of the reinsurance; | | （五）对于比例分保，如分入分出双方承担的保险责任不同，还需提交精算责任人签署的或第三方（如精算咨询公司，下同）提供的定价报告，包括分入分出双方的保险责任、原始保单的定价、再保险的定价； |
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| (6) As for a non-proportional insurance, a pricing report signed by a responsible actuary or provided by a third party shall be submitted. | | （六）对于非比例分保，还需提交精算责任人签署的或第三方提供的定价报告。 |
With regard to Items (5) and (6) of this Article, if any of the following requirements is satisfied, it is only necessary to report the price of the contract reinsurance and the quota of the reinsurer: | |
对于本条第（五）、（六）款，如符合下列条件之一的，仅需报告合约分保的价格及各再保险人的份额： |
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| a. the affiliated party is not the top reinsurer of the contract; | | 1、关联方不是合约的首席再保人； |
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| b. the quota occupied by the affiliated party in the contract is not more than 50%, as for a multilayer non-proportional contract, the quota occupied by the affiliated party in each layer shall be not more than 50%. | | 2、关联方在合约中所占的份额不超过50%，对于多层的非比例合约，关联方在每一层中所占的份额不超过50%。 |
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| 3. As for a transaction of contract reinsurance between a foreign-funded insurance company and any of its affiliated enterprise, the following contents shall be reported in light of different accounting methods: | | 三、外资保险公司与其关联企业之间安排的合约分保，还需针对不同的会计方式报告下列内容： |
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| (1) As for a transaction of contract reinsurance of health insurance, accident insurance or life insurance (except YRT) conducted on a business year basis, the insurance period of the original guarantee slip on long-term health insurance, long-term accident insurance or long-term life insurance shall be reported; | | （一）对于采用业务年度安排的健康险、意外险、寿险业务的合约分保（YRT除外），需报告长期健康险、长期意外险、长期寿险业务的原始保单保险期限； |
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| (2) As for a transaction of contract reinsurance (except excess of loss reinsurance per risk and excess of loss reinsurance per accident) conducted on an accident year basis, the undue liability reserve report which is related to this contract and signed by a responsible actuary or provided by a third party shall be submitted, which shall include the preparation method and the transfer-in amount of the undue liability reserve; | | （二）对于采用事故年度安排的合约分保（除险位超赔、事故超赔外），需提交精算责任人签署的或第三方提供的涉及该合约的未到期责任准备金报告，包括未到期责任准备金的计提方法及转入金额； |
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| (3) As for a transaction of contract reinsurance conducted on an accounting year basis, the undue liability reserve report and the outstanding loss reserve report which are related to this contract and signed by a responsible actuary or provided by a third party shall be submitted, which shall include the preparation method and the transfer-in amount of the undue liability reserve, and the preparation method and the transfer-in amount of the outstanding loss reserve. | | （三）对于采用会计年度安排的合约分保，需提交精算责任人签署的或第三方提供的涉及该合约的未到期责任准备金报告和未决赔款准备金报告，包括未到期责任准备金的计提方法及转入金额、未决赔款准备金的计提方法及转入金额。 |
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| 4. As for a reinsurance under which the ceding company draws some or all reserves that shall be drawn by the ceded company, in addition to the contents prescribed in Article 1 or 2, the following contents shall also be reported: | | 四、对于由分出公司提存分入公司应提的部分或全部准备金的再保险方式，除报告第一条或第二条规定的内容外，还需报告下列内容： |
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| (1) Hypothetical interest rate based on which the pricing of the original guarantee slip is made; and | | （一）原始保单定价时的假设利率； |
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| (2) Interest rate on the reserves drawn by the ceding company. | | （二）分出公司对于提存的准备金需支付的利率。 |
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| 5. A foreign-funded insurance company shall, within 30 days upon the end of each quarter, file the written and electronic documents of the Quarterly Statistics of the Reinsurance Transactions Between Foreign-funded Insurance Companies and Their Affiliated Enterprise with China Insurance Regulatory Commission. The Statistics shall list all the transactions conducted from the beginning of the year till the end of the said quarter and separately list the transactions conducted with each affiliated enterprise. | | 五、外资保险公司应在每季度结束后30天内向中国保监会报送当年累计至该季度的《外资保险公司与关联企业再保险交易季度统计表》书面及电子文档，并按照每个关联企业分别统计。 |
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| 6.A foreign-funded insurance company shall,before on April 30th every year,file the written and electronic documents of the Yearly Statistics of the Reinsurance Transactions Between Foreign-funded Insurance Companies and Their Affiliated Enterprise with China Insurance Regulatory Commission.The Statistics shall list all the transactions conducted from the beginning of the year till the end of the said quarter and separately list the transactions conducted with each affiliates enterprise. | | 六、外资保险公司应于每年4月30日前向中国保监会报送上两年度的《外资保险公司与关联企业再保险交易年度统计表》书面及电子文档，并按照每个关联企业分别统计。 |
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7. A reinsurance transaction approved by China Insurance Regulatory Commission shall be conducted in strict accordance with the relevant requirements of the Provisions on the Administration of Reinsurance Business (Order No.2 [2005] of China Insurance Regulatory Commission).
．．．．．． | | 七、经中国保监会批准的再保险关联交易应严格按照《再保险业务管理规定》（保监会令〔2005〕2号）的有关要求操作。
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