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

2026-04-06 23:26:13

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On February 27, the website of the National Financial Regulatory Administration released a notice. To thoroughly implement the spirit of the Central Financial Work Conference, the Financial Regulatory Administration has adhered to strict and severe regulation. Since 2024, it has carried out a “cleaning up and standardizing” campaign in the insurance intermediary market, with efforts to, in accordance with the law and regulations, categorize and phase out insurance intermediary institutions that do not meet regulatory requirements or are operating abnormally. It will seriously investigate and hold accountable illegal and unlawful conduct, and revoke business licenses in accordance with law for institutions that seriously disrupt market order. In 2024—2025, nationwide, a cumulative total of 3 insurance intermediary groups were investigated, had their businesses revoked, or were deregistered, and 57 insurance specialized intermediary legal entity institutions were likewise investigated, had their businesses revoked, or were deregistered. A total of 3,730 insurance specialized intermediary branches were cleared out, and 226 insurance dual-licensing agency institutions were cleared out.

Next, the Financial Regulatory Administration will continue to thoroughly implement the decisions and deployments of the Party Central Committee and the State Council. Centering on the main line of work to prevent risks, strengthen regulation, and promote high-quality development, it will solidly do a good job in insurance intermediary supervision, improve the regulatory system for insurance intermediaries, and continue to advance the cleaning up and upgrading of insurance intermediaries in depth. It will optimize the market structure of insurance intermediaries, promote insurance intermediary institutions to strengthen professional capabilities and information technology development, deepen the reform of dual-licensing agency for insurance, and promote high-quality development of insurance intermediaries, helping improve the quality and efficiency of financial services.

(National Financial Regulatory Administration)

(Editor: Qian Xiaorui)

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