保險業負責人應具備資格條件兼職限制及應遵行事項準則

These Regulations are adopted pursuant to Paragraph 1, Article 137-1 of the Insurance Act ("the Act").

These Regulations apply to insurance enterprises and foreign insurance enterprises as defined in Article 6 of the Act.

1The responsible person of an insurance enterprise must have good moral character and must not be in any of the following situations; a responsible person to whom any of the following descriptions applies shall certainly be discharged by the Competent Authority:

21.Has no legal capacity, has limited legal capacity, or is the subject to the order of commencement of assistance and such order has not been revoked.

32.Has committed a crime under the Organized Crime Prevention Act, and has been found guilty by a final and unappealable judgment.

43.Has previously received a final and unappealable sentence to a punishment of imprisonment for counterfeiting of currency, counterfeiting of securities, embezzlement, fraud, or breach of trust, and execution of the sentence has not started serving or been completed, or ten years have not yet passed since execution of the sentence was completed, probation expired, or pardon was granted, as the case may be.

54.Has previously received a final and unappealable sentence to a punishment of not less than imprisonment for forgery, offense involving secret information, usury, impairment of creditor rights, or a violation of the Tax Collection Act, the Trademark Act, the Copyright Act, the Patent Act, or other acts or regulations governing industry and commerce, and the sentence has not started serving or has not been completed or five years have not yet elapsed since execution of the sentence was completed, probation expired, or pardon was granted, as the case may be.

65. Has committed the offense as specified in the Anti-corruption Act and subsequently convicted of a crime, and has not started serving the sentence, has not completed serving the sentence, or five years have not elapsed since completion of serving the sentence, expiration of the probation, or pardon.

1The chairperson of an insurance enterprise may not serve concurrently as its general manager. The preceding provision does not apply in the following circumstances, subject to the approval of the competent authority:

21.The general manager leaves job or becomes unable to continue the performance of his/her duties due to some material unforeseen event and there is no eligible candidate who meets the qualification requirements set forth in Article 7, paragraph 2 herein to take his or her place.

32.The general manager is discharged from his or her position by order of the competent authority pursuant to Article 149, paragraph 1, subparagraph 4 of the Act for regulatory violation, and there is no eligible candidate who meets the qualification requirements set forth in Article 7, paragraph 2 herein to take his or her place.

43.The general manager is deemed by the competent authority to be in other situations similar to that in the preceding two subparagraphs and there is no eligible candidate who meets the qualification requirements set forth in Article 7, paragraph 2 herein to take his or her place.

5When an insurance enterprise applies to the competent authority for its chairperson to serve concurrently as its general manager pursuant to the proviso in the preceding paragraph, the competent authority may grant the holding of concurrent positions for a maximum period of three months. If necessary, the insurance enterprise may apply to the competent authority for one extension one month before the end of the three-month period. However if its chairperson does not meet the qualifications set forth in Article 7, paragraph 2, the insurance enterprise is not allowed to apply for an extension.

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1The concurrent holding of positions and the number of concurrently held positions of the responsible person of an insurance enterprise shall be subject to the principle that the responsibilities of the principal position and the concurrent position are both effectively discharged without any conflict of interests or any violation of the respective internal controls of the institutions.

2An insurance enterprise shall on a regular basis evaluate the performance of a responsible person holding a concurrent position, and having regards to its investment management needs, risk management policies, and the provisions of the Regulations; the evaluation results shall serve as an important reference to determine whether the concurrently held position(s) will be maintained or reduced in number.

1The director or supervisor, or its related person, of an insurance enterprise who act concurrently as the director or supervisor of other financial institutions as set forth in Paragraph 3 of Article 4 will be deemed to have a conflict of interest unless the insurance enterprise and the financial institutions have the controlling and subordinate relation as defined in the Company Act or such concurrent appointment is allowed under the provisions of these Regulations.

2The general manager of an insurance enterprise or its related person who acts concurrently as the director or supervisor of another insurance enterprise will be deemed to have a conflict of interest unless the insurance enterprise and the other insurance enterprise have the controlling and subordinate relation as defined in the Company Act or such concurrent appointment is allowed under the Act or the Financial Holding Company Act.

3The term “director” or “supervisor” as used in Paragraph 1 shall have the following meanings:

41.A juristic person or the natural person designated by such juristic person to exercise the duties.

52. A juristic person or the elected natural person who represents such juristic person.

63. An elected natural person who does not represent the government, any juristic person or the representative of a juristic person or the government.

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1An insurance enterprise shall have one general manager to oversee the business of the entire company (or cooperative) and shall not have another person in equivalent position.

2The general manager of an insurance enterprise must have good moral character, leadership and the ability to effectively manage the insurance enterprise, and possess any one of the following qualifications:

31.Has graduated from a domestic or foreign school at the level of junior college or higher or possesses equivalent academic qualifications, has worked for no less than nine years in insurance enterprises, and has served for no less than three years in the position of manager or higher or in an equivalent position at the head office of an insurance enterprise (or cooperative), and has performed with excellence in such position.

42.Has graduated from a domestic or foreign school at the level of junior college or higher or possesses equivalent academic qualifications, has worked for no less than nine years in insurance administration or supervision, and has served for no less than three years in the position of intermediate civil service employee at grade 9 or higher or in an equivalent position, and has performed with excellence in such position.

53.Has worked for no less than five years in insurance enterprises, and has served for no less than three years in the position of vice general manager or higher or in an equivalent position at an insurance enterprise, and has performed with excellence in such position.

64.Has other academic or employment experience sufficient to show that he/she has leadership ability, professional insurance expertise, or experience in managing an insurance business, and is capable of operating an insurance business soundly and efficiently.

1The director and supervisor of an insurance enterprise, must have good moral character and the chairperson, at least one third of the directors and one third of the supervisors must meet one of the following qualifications:

21.Has graduated from a domestic or foreign school at the level of junior college or higher or possesses equivalent academic qualifications, has worked for no less than five years in insurance enterprises, and has served for no less than one year in the position of assistant manager or higher or in an equivalent position at the head office of an insurance enterprise (cooperative), and in such position has performed with excellence.

32.Has graduated from a domestic or foreign school at the level of junior college or higher or possesses equivalent academic qualifications, has worked for no less than five years in insurance administration or supervision, and has served for no less than one year in the position of intermediate civil service employee at grade 9 or higher or in an equivalent position, and in such position has performed with excellence.

43.Has worked for no less than five years in insurance enterprises, and has served for no less than three years in the position of assistant manager or higher or in an equivalent position at the head office of an insurance enterprise (or cooperative), and in such position has performed with excellence.

54.There is other factual evidence sufficient to prove that he/she has professional insurance expertise, or experience in managing an insurance enterprise, and is capable of safe, sound, and effective operation of an insurance business.

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1The vice general manager, assistant vice general manager, manager of an insurance enterprise, or those with equivalent duties must have good moral character, leadership and the ability to effectively manage an insurance enterprise, and must meet one of the following qualifications:

21.Has graduated from a domestic or foreign school at the level of junior college or higher or possesses equivalent academic qualifications, has worked for no less than five years in insurance enterprises, and has served for no less than one year in the position of assistant manager or higher or in an equivalent position at the head office of an insurance enterprise (cooperative), and in such position has performed with excellence.

32.Has graduated from a domestic or foreign school at the level of junior college or higher or possesses equivalent academic qualifications, has worked for no less than five years in insurance administration or supervision, and has served for no less than one year in the position of intermediate civil service employee at grade 9 or higher or in an equivalent position, and in such position has performed with excellence.

43.Has worked for no less than five years in insurance enterprises, and has served for no less than three years in the position of assistant manager or higher or in an equivalent position at the head office of an insurance enterprise (or cooperative), and in such position has performed with excellence.

54.Has 10 or more years of professional experience in the field of information science, technology, law, e-commerce, digital economy, financial accounting, or human resources and has performed with excellence in that field.

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1A supervisor's spouse, blood relative within the second degree of kinship, or relative by marriage within the first degree of kinship, may not serve as a director or manager at the same insurance enterprise.

2The preceding paragraph also applies to the representatives of the government and juristic persons.

An insurance enterprise's board of directors is held responsible for the appointment of managers and making sure that the appointed managers meet the requirements for moral character, skills, and qualifications. The board of directors is also held responsible for overseeing the maintenance of qualifications by managers and the suitability of managers in their positions.

1An insurance enterprise shall, within 15 days after its chairperson, and managing directors, directors or supervisors that meet the qualification requirements set forth in Article 8, paragraph 1 herein have been elected or appointed, submit relevant qualification documents to the competent authority for approval; where the qualifications of the chairperson, managing directors, directors or supervisors are not approved by the competent authority, the competent authority may order the insurance enterprise to make changes within a prescribed period of time; The same shall apply if factual evidence shows that an individual does not possess the required good moral character or qualifications specified in Article 8, Paragraph 1 after taking office.

2Where an insurance enterprise has question over whether its chairperson, managing director, director, or supervisor to be elected or appointed meets the qualification requirements set forth in Article 8, paragraph 1, subparagraph 4 herein, the insurance enterprise may submit the qualification information for approval by the competent authority before the election or appointment.

In order to determine whether a responsible person of an insurance enterprise possesses the qualifications prescribed in these Regulations, the competent authority may order an insurance enterprise to act within a specified time period to submit necessary documents and information or send a designated person to appear before the competent authority for questioning.

1If any circumstance in Article 3 or any circumstance that constitutes ipso facto cause for dismissal applies to a responsible person of an insurance enterprise, the responsible person shall promptly notify the insurance enterprise.

2An insurance enterprise should take proactive action after learning that its responsible person has a situation specified in Article 3 or a situation that constitutes ipso facto cause for dismissal, file a report with the competent authority, and notify the Ministry of Economic Affairs to revoke or cancel related registration.

The Regulations herein shall become effective on the date of promulgation.