On this day, 27 years ago, November 18, 1998 (September 30, 1998, the China Insurance Regulatory Commission was established. On November 18, 1998, the inaugural meeting of the China Insurance Regulatory Commission was held in Beijing. Wen Jiabao attended the meeting and expressed congratulations on the establishment of China Insurance Regulatory Commission on behalf of the State Council and Zhu Rongji. He said that the decision of the Party Central Committee and the State Council to establish the China Insurance Regulatory Commission is an important decision to implement the spirit of the National Financial Work Conference, deepen financial system reform, and further prevent and resolve financial risks. Since the reform and opening up, my country's insurance industry has developed rapidly. As of the end of 1997, there were 13 Chinese-funded insurance companies and 9 foreign-funded insurance institutions across the country. In 1997, the national premium income was 108.097 billion yuan, an increase of 39.19% over the previous year; the underwriting amount was 21.5 trillion yuan, and the total assets of insurance companies reached 164.6 billion yuan. Insurance plays an increasingly important role in promoting reform, ensuring the economy, stabilizing society, and benefiting the people. Wen Jiabao said that while China's insurance industry is developing rapidly, there are also some problems and certain hidden dangers and risks. The establishment of China Insurance Regulatory Commission will be conducive to cultivating and improving my country's insurance market; will be conducive to unifying insurance supervision functions, rationalizing the insurance supervision system, and establishing an insurance supervision system that is compatible with the development of the socialist market economy; and will be conducive to strengthening the supervision of the insurance industry, preventing and defusing financial risks, and ensuring the sustained, rapid and healthy development of my country's insurance industry. Wen Jiabao pointed out that China Insurance Regulatory Commission is a public institution directly under the State Council and the competent authority of commercial insurance across the country. It performs administrative functions as authorized by the State Council and uniformly supervises and manages the insurance market in accordance with laws and regulations. The main tasks are: Formulate policies, regulations and industry plans related to commercial insurance; supervise, manage and provide business guidance on the business activities of insurance companies in accordance with the law, investigate and deal with violations of laws and regulations by insurance companies in accordance with the law, and protect the interests of insured persons; maintain insurance market order, cultivate and develop the insurance market, Improve the insurance market system, promote insurance reform, and promote fair competition among insurance companies; Establish an evaluation and early warning system for insurance industry risks, prevent and resolve insurance industry risks, and promote the steady operation of insurance companies and the healthy development of their businesses. Wen Jiabao said that the Party Central Committee and the State Council have high hopes for the China Insurance Regulatory Commission and hope that the China Insurance Regulatory Commission will effectively perform the responsibilities entrusted by the State Council. Wen Jiabao put forward four requirements for China Insurance Regulatory Commission: First, we must study hard, improve our consciousness in implementing the party's line, principles, and policies, study hard modern insurance knowledge, continuously increase our talents, and improve our professional quality; Second, we must strengthen supervision, dare to fight against all violations of laws and disciplines, maintain order in the insurance market, and strive to achieve results in the short term; Third, we must be honest and efficient, correctly exercise the powers entrusted by the Party and the people, perform supervisory functions fairly and impartially, and establish an efficient internal operating mechanism as soon as possible; fourth, we must unite and cooperate to form a synergy to make positive contributions to the development of China's insurance industry. Zhang Bolin, deputy director of the Organization Department of the CPC Central Committee, read out the appointment of the leadership team of the China Insurance Regulatory Commission by the CPC Central Committee at the meeting. Ma Yongwei, the first chairman of China Insurance Regulatory Commission, said at the inaugural meeting that China Insurance Regulatory Commission will adhere to the tenet of impartiality, honesty, supervision according to law, due diligence and civilized service, strive to improve service level and service quality, establish efficient internal operation mechanism, constantly improve the political and professional quality of supervision team five, and strive to create a new situation in insurance supervision work.