| In the year 2003, the insurance capital management company (ICMC) turned up in our country. The next year, China Insurance Regulatory Commission (CIRC) promulgated'Interim provisions for insurance capital management company'(Interim provisions) to regulate the ICMC .The ICMC is a newly-emerged thing in our country, and the Interim provisions are department rules, both of which remain to be improved.This article studies the current legal regulation of the ICMC and its potential risks under such legal regulation, and puts forward some proposals to deal with the risks and to perfect its legal regulation. The author hopes this article does good to the growth of the ICMC and its legal regulation.The fist chapter is a main introduction of the ICMC. In this chapter, the author introduces the three models of insurance capital utilization and how the ICMC is about at home and abroad.The second chapter analyses the current legal regulation of the ICMC. The interim provisions are the only legal regulation special for the ICMC in our country. They are worthy of recognition at that time when they were promulgated. But with the passage of time, the interim provisions turn limited.The third chapter analyses the potential legal risks of the ICMC in the perspective of company law and trust law. The ICMC has the risks that the controlling shareholders will control the company and the company will act against its fiduciary duty as a trustee so that its small shareholders'and thrusters'interest will be infringed. But the adverse consequences are borne by the insured. So it is necessary to study the legal regulation of the ICMC.The last chapter aims to perfect the legal regulation of the ICMC. This chapter provides some proposals to perfect the legal regulation, which can prevent the potential legal risks and can also facilitate long-term development of the ICMC. The author proposes advice for improvement for insurance and asset managing companies from the perspectives of inner management and outside.
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