A Stady On Legal Supervision Of Bancassurance In China

Bancassurance, originated from 70's of 20th century in France and formed a systematic and perfect mechanism in Europe and America, is a financial innovation interacted with bank and insurance. Banks representing insurance products are the early form of bancassurance. It has developed strategic alliances mode, joint venture mode and enterprise groups mode afterwards as the kinds of joint projects are proceeding. It is widely propelling the country's financial industry and fulfilling with global economics by highly developed bancassurance. Our bancassurance has a short history. At present, our situation is in bancassurance agent mode. In recent years, bancassurance business obtains a rapid growth in our country. However there are also many troubles, such as low level of cooperation, stressing on short-time profits, single product structure, vicious poundage competition and misleading propaganda severely during banks representing and saling. These troubles not only handicap its development but also are not in favor of stabling in financial market. So, it is very necessary to fulfill a rapid and sound development through commanding to go to the source to working them out scientifically and rationally in our country's bancassurance.From the point of legal supervision, this paper introduces recent study on Chinese bancassurance supervisory law systems which still have flaws and puts forward a new methods that how to reconstruct our bancassurance supervisory law system through analysing the overseas bancassurance supervisory law system and learning their successful legislation experience.This paper, totally 30,000 words,divides four chapters to discuss:ChapterⅠconsists of two parts. Part one introduces the definition, the business pattern and the process of birth and development of bancassurance. It emphasizes that the existing problems which come out during its developing process have been pointed out. Part two introduces the definition,features,significances and principles of bancassurance supervisory law system whose ruling and leading are priority.ChapterⅡpresents the legal supervision system and the regulation system now existing in China. Here are some flaws:most part of them being department rules, weak legal system and unsoundness of interrelated legal institutions. Cross-industry business is hard to supervise efficiently by institutional supervision system. Chapter III firstly introduces the progress of bancassurance around the world. According this, it highlights the supervisory bancassurance system existing in England, France and America. During the analysis, it studies their laws of development and successful experiences, carried lessons in China to figure out that it should be derregulated the mixed operation of financial industry in legislation and should strengthen the coordination among government agencies in supervision system. At last, it proposes the future development mode of bancassurance in China should be a form of financial holding.Chapter IV discusses the options of legislation mode in bancassurance. During the legislation progress, it should be considering our present situations and following the principle of gradual improvement which our bancassurance business should be regulated with Bancassurance Business Controlling Regulations released by the State Council and should draft a long-term plan to its developing direction in future. Chinese laws and regulations should deregulate the mixed operation. When the time is ripe, it can enact Financial Holding Company Law to regulate its bancassurance business. At the end of this paper, it illustrates that local government agencies should enact relevant supporting measures to ensure our bancassurance business with a steady, fast and healthy development.