@保险，重要改革！238家机构，监管大调整

Core Viewpoint - The recent adjustment in the regulatory responsibilities of insurance institutions aims to enhance local regulatory accountability, with a significant shift in the number of institutions under the supervision of the Financial Regulatory Bureau and local regulatory agencies [4][5]. Summary by Sections Regulatory Changes - As of June 30, 2025, the number of insurance institutions under the supervision of the Financial Regulatory Bureau has decreased from 116 to 65, focusing primarily on insurance groups and their subsidiaries [2][3]. - The adjustment reflects a broader trend of local regulatory agencies taking on more responsibilities, particularly in major cities like Beijing, Shanghai, and Shenzhen [5][6]. Historical Context - This adjustment follows the 2020 reform of localized regulatory oversight, which aimed to improve the efficiency of regulatory resources and mechanisms for insurance companies [3]. Impact on Local Regulatory Agencies - Local regulatory agencies have seen a significant increase in the number of insurance institutions they oversee, with Beijing's regulatory agency increasing its responsibilities from 24 to 39 institutions, and Shanghai's from 24 to 36 [5][6]. - The increase in regulatory responsibilities has led to heightened pressure on local agencies, necessitating stronger management accountability from insurance company executives [6]. Changes in Specific Institutions - The total number of insurance institutions has decreased by one, with notable changes including the removal of Tianan Insurance and the addition of Suzhou Dongwu Insurance [7]. - Among the 16 pension and health insurance companies, 6 have shifted to local regulatory oversight, while the majority remain under the Financial Regulatory Bureau [8]. Asset Management Institutions - A total of 35 insurance asset management companies have transitioned to local regulatory oversight, with 21 of these institutions now under local agencies [10][12]. - The Financial Regulatory Bureau continues to oversee 14 asset management companies, primarily those affiliated with major insurance groups [11][13]. Local Regulatory Responsibilities - Local regulatory agencies are now responsible for various aspects of insurance institutions, including approval of executive qualifications, shareholder changes, capital increases, and debt issuance [15].