Promoting the insurance intermediary market to "eliminate chaos and improve quality" - 60 licenses revoked in two years

WealthCoffee · 2026-03-03T13:24:21+00:00

In the past two years, to address the issues of "excessive, scattered, and chaotic" insurance intermediaries, many local CBIRC bureaus have carried out rectification efforts, investigating and revoking 60 insurance intermediary licenses, removing 3,730 professional intermediary branches, and 226 concurrent agency institutions, aiming to standardize the insurance intermediary market.

WealthCoffee

2026-03-03 13:24:21

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【Caixin.com】 In the past two years, many local banking and insurance regulatory bureaus have carried out rectification efforts targeting the “disorganized and scattered” issues within insurance intermediaries, including reducing the number of affiliated agency organizations.

The General Office of Financial Supervision recently disclosed data showing that from 2024 to 2025, a total of 60 insurance intermediary licenses will be revoked or canceled nationwide, including 3 insurance intermediary groups and 57 specialized insurance intermediary legal entities. At the same time, 3,730 branches of insurance intermediaries and 226 affiliated insurance agencies will be phased out.

An insurance intermediary refers to an entity or individual engaged in insurance business consulting and sales, risk management and arrangement, value measurement and assessment, loss appraisal, and other intermediary activities between insurance operating entities or between insurance entities and policyholders, and legally earns commissions or fees from these activities. It mainly includes insurance agents, insurance brokers, and insurance appraisers.

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