China Insurance Security Fund

What China Insurance Security Fund does

China Insurance Security Fund Co., Ltd. (中国保险保障基金有限责任公司) is a Beijing-headquartered state-owned enterprise established in September 2008 with approval from the State Council, jointly promulgated by the former China Insurance Regulatory Commission, the Ministry of Finance, and the People's Bank of China. It is the first non-governmental industry risk rescue fund in China's financial sector and serves as the sole statutory manager of China's insurance security fund system. Its core mandate is to collect mandatory contributions from all domestic property and life insurance companies, manage and invest those funds, monitor industry-wide risks, and participate in the resolution of troubled insurers. In 2024, it assessed 270.39 billion yuan (including VAT) of contributions from 180 insurance companies, up 2.61% YoY from 263.52 billion yuan in 2023.

The company's product surface is statutory rather than commercial: it comprises Fund Collection, Fund Management, Risk Monitoring, and Risk Resolution — supported by an investment framework using external investment managers (China Life Asset Management, Ping An Asset Management, Taikang Asset Management, China Pacific Asset Management, China Re Asset Management, HuaTai Asset Management, Taihe Asset Management, Penghua Fund, Harvest Fund, and China Asset Management), with Bank of Communications as custodian and CITIC Securities as investment advisor. Its research outputs include the quarterly China Insurance Consumer Confidence Index (covering 18 provinces/municipalities representing 90%+ of national premiums) and the Insurance Industry Risk Observation journal, which became a publicly indexed collection by People's Daily Press in September 2023. The company has participated in major risk resolutions including Xinhua Life Insurance (exit 2009), Zhonghua United Insurance (capital injection of 60 billion yuan, exit 2016 at 144.05 billion yuan), and Anbang Insurance Group (608.04 billion yuan injection in 2018, leading to bankruptcy proceedings approved in August 2024). In 2023-2025, it co-established four new life insurance companies — Zhonghui Life (20% stake), Rui Zhong Life (40%), Haigang Life (25%), and Fuze Life (35.29%) — to absorb restructured insurance portfolios.

The business model is non-commercial: the company is funded through management fees and allocations from the insurance security fund as governed by the Insurance Law and the Insurance Security Fund Management Measures (revised October 2022), and does not generate product revenue. It is supervised by the National Financial Regulatory Administration, the Ministry of Finance, and the People's Bank of China. Go-to-market is exclusively through regulatory and statutory channels — all domestic insurance companies are required by law to contribute, and the company reports to regulators rather than selling to customers. The company relocated to 太平洋保险大厦 at 太平桥大街丰盛胡同28号, Xicheng District, Beijing, on July 6, 2026.

Name

China Insurance Security Fund

Legal name

中国保险保障基金有限责任公司

Website

https://cisf.cn

Company type

Private

Founded year

2008

Operating status

Operating

Short description

China Insurance Security Fund is a State Council-established state-owned enterprise that manages China's statutory insurance security fund — collecting mandatory contributions from all domestic insurers, investing the pool, monitoring industry risks, and rescuing troubled insurers.

Ownership category

akta.pro rank

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Distribution channels2 records

Marketing channels5 records

Core offering

China Insurance Security Fund is a state-established fund management company that collects mandatory contributions from domestic insurance companies, manages and invests the insurance security fund, monitors industry-wide insurance risks, and participates in risk resolution of distressed or bankrupt insurers to protect policyholders. It operates as the industry-funded, market-based self-rescue mechanism for China's insurance sector under the Insurance Law and the Insurance Security Fund Management Measures.

Product overview

China Insurance Security Fund operates as a state-owned enterprise managing the insurance security fund system in China. The company's core offerings include fund collection (managing contributions from insurance companies), fund management (investment operations and custody), risk monitoring (industry surveillance and consumer confidence indices), and risk resolution (disposal of troubled insurers). Key products include the Insurance Industry Risk Observation publication, the China Insurance Consumer Confidence Index, and various industry research reports. The company was established in September 2008 with approval from the State Council.

Differentiator

Problem solved

Functional benefit

Brands

• 《保险业风险观察》: 行业风险管理专业内刊，为监管机构、专家学者、从业人员提供政策研究、实务探索和业务交流的平台
• 中国保险消费者信心指数
• 中国保险业风险评估报告
• 保险业风险观察

Products and services

• Insurance Security Fund Management Service

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

13 partnerships are on record, tiered core.

• 大家保险集团有限责任公司 (Dajia Insurance Group Co., Ltd.)coreStrategic or Co-development Partner · 25 June 2019Co-established with China Petroleum & Chemical Corporation (中国石化) and SAIC Motor (上汽集团) in June 2019 with registered capital of 203.6 billion yuan. The company holds equity stakes and manages the resolution of Anbang Group through this platform.
• China Life Asset Management Co., Ltd. (中国人寿资产管理有限公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets. Selected as one of the first five investment management institutions in April 2011 when the entrusted asset management business launched.
• Ping An Asset Management Co., Ltd. (平安资产管理有限责任公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets, providing professional investment management services for fund assets.
• Taikang Asset Management Co., Ltd. (泰康资产管理有限责任公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets, providing professional investment management services for fund assets.
• China Pacific Insurance (Group) Asset Management Co., Ltd. (太平洋资产管理有限责任公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets, providing professional investment management services for fund assets.
• China Re Asset Management Co., Ltd. (中国人保资产管理有限公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets, providing professional investment management services for fund assets.
• HuaTai Asset Management Co., Ltd. (华泰资产管理有限公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets, providing professional investment management services for fund assets.
• Taihe Asset Management Co., Ltd. (太平资产管理有限公司)coreTechnology or Integration · 1 April 2011Investment manager for insurance security fund entrusted assets, providing professional investment management services for fund assets.
• Penghua Fund Management Co., Ltd. (鹏华基金管理有限公司)coreTechnology or Integration · 1 April 2011External fund management company selected as investment manager for insurance security fund entrusted assets, adding market-oriented fund management expertise.
• Harvest Fund Management Co., Ltd. (嘉实基金管理有限公司)coreTechnology or Integration · 1 April 2011External fund management company selected as investment manager for insurance security fund entrusted assets.
• China Asset Management Co., Ltd. (华夏基金管理有限公司)coreTechnology or Integration · 1 April 2011External fund management company selected as investment manager for insurance security fund entrusted assets.
• CITIC Securities Co., Ltd. (中信证券股份有限公司)coreTechnology or Integration · 1 April 2011Investment advisor for insurance security fund entrusted asset management, providing investment advisory services within the four-party framework (principal, investment manager, custodian, advisor).
• Bank of Communications Co., Ltd. (交通银行股份有限公司)coreTechnology or Integration · 1 June 2010Custodian bank for entrusted assets, providing third-party custody and oversight of fund assets. Selected in June 2010.

Scale indicators7 records

Recent moves11 records

Expansion highlights6 records

Broad incumbents

• Canada Deposit Insurance Corporation (CDIC): Canada's federal deposit insurance corporation, offering a smaller-scale but mature comparator on the safety-net institution model. While focused on deposits rather than insurance, the operational and statutory frameworks are conceptually parallel.
• Federal Deposit Insurance Corporation (FDIC): US federal deposit insurance corporation with broader scope and scale, but operating a similar statutorily-mandated, levy-funded safety net model. CISF's framework draws on FDIC precedents; comparable as a mature, globally recognized safety-net institution.

Direct peers

• Fonds de Garantie des Assurances de Personnes (FGAP): French statutory guarantee fund for personal insurance (life, health, disability), funded by mandatory insurer contributions and intervening in insurer failures. Shares CISF's mandate structure—pooled resources plus reactive intervention in distressed insurers.
• Korea Deposit Insurance Corporation (KDIC): Korea's statutory safety-net entity covering both deposits and insurance policyholders. KDIC's insurance-policyholder protection mandate closely parallels CISF's, and it provides a regional peer for Asian market practice.
• Protektor Versicherungs-AG: Germany's life insurance policyholder protection fund, established under German insurance supervision law to safeguard policyholders of insolvent German life insurers. Directly comparable to CISF on mandate, fund management structure, and statutory basis.
• Financial Services Compensation Scheme (FSCS): UK's statutory compensation scheme for financial services customers, including insurance policyholders. Comparable in its statutorily-mandated role of last resort for failed financial institutions and its levy-funded structure.
• Insurance Policyholders Protection Corporation of Japan: Japan's statutory insurance policyholder protection fund, established to compensate policyholders when Japanese insurance companies fail. The closest international analog to CISF in mandate scope, statutory backing, and operational focus on insurance-sector rescue.
• Guarantee Fund for Financial Services (Belgian Guarantee Fund): Belgium's statutory insurance and financial deposits guarantee fund. CISF engages with this entity via bilateral exchange; the Belgian fund is a directly comparable insurance policyholder protection vehicle in scope.

Regional players

• China Securities Investor Protection Fund: China's parallel securities market investor protection fund, structurally analogous to CISF within the securities regulator framework (CSRC). Provides a directly comparable Chinese institutional model in mandate, funding, and governance style.

Others

• International Association of Insurance Supervisors (IAIS): Global standard-setting body for insurance supervision whose Insurance Resolution Working Group intersects with CISF's mandate. Not a direct competitor but a key peer in the international ecosystem defining insurance resolution standards CISF must adopt.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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M&A

Investments2 records

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Frequently asked questions about China Insurance Security Fund