Author(s)

Yiting He ¹

Affiliation(s)

¹ Law School, Southwest Petroleum University, Chengdu, 610500, Sichuan, China

Corresponding Author

Yiting He

ABSTRACT

The bankruptcy reorganization of Yi'an Property & Casualty Insurance Co., Ltd. stands as China's pioneering judicial intervention in insurance sector insolvency, demonstrating a critical legal mechanism for addressing systemic financial risks and institutional vulnerabilities. Through rigorous examination of this landmark case, fundamental legal challenges emerge in three dimensions: the determination of insolvency causation, the fulfillment of regulatory prerequisites prior to bankruptcy filings, and the comprehensive safeguarding of policyholder rights and interests as contractual creditors. These challenges may be systematically addressed through strategic reforms, including establishing solvency-focused regulatory thresholds for bankruptcy adjudication, standardizing pre-bankruptcy administrative coordination procedures, and implementing legally binding prioritized protection frameworks for insurance beneficiaries during reorganization processes.

KEYWORDS

Bankruptcy Reorganization; Enterprise Bankruptcy Law; Insurance Law; Insurance Companies

CITE THIS PAPER

Yiting He. Case Study on the Bankruptcy Reorganization of Yi'an Property Insurance Co, Ltd. Science of Law Journal (2025) Vol. 4: 107-114. DOI: http://dx.doi.org/DOI: 10.23977/law.2025.040314.

REFERENCES

[1] Zhu Ciyun, Jiang Wanying. The Legislative Model and Bankruptcy Criteria for Financial Institutions [C]// Proceeding of the First China Bankruptcy Law Forum. 2025:209-220.
[2] Sai Zheng. On the Appropriateness of the Legislation on the Causes of Bankruptcy of Insurance Companies in China—Also on the Provisions of Articles 90 and 149 of the Insurance Law of China [J]. Law Science in Times, 2020(1): 64-72. DOI:10.19510/j.cnki.43-1431/d.20191224.006.
[3] Sheng Jianming, Jia Jing. On the Practice, Dilemmas and Solutions of the Pre-Bankruptcy Procedure for Insurance Companies in China [J]. Law Journal, 2015, 36(12): 8. DOI: CNKI: SUN: FXAS.0.2015-12-007.
[4] Jia Jing. On the Protection of Policyholders' Rights and Interests in the Legal System of Bankruptcy Reorganization of Insurance Companies in China [J]. Insurance Studies, 2015, (4): 115-123.
[5] They are respectively the Insurance Regulatory Information System (IRIS), the Financial Analysis and Solvency Tracking System (FAST), the Minimum Risk-Based Capital Requirements (MRBC) for property and liability insurance companies, the Risk-Based Capital Requirements (RBC), and the Dynamic Financial Analysis (DFA) for the insurance industry. Meanwhile, insurance companies are required to record their business operations and periodically submit annual and quarterly financial reports in accordance with the Statutory Accounting Principles (SAP).
[6] Wang Jing. Research on Several Issues in the Bankruptcy Disposal of Insurance Companies—From the Perspective of the Revision of the Enterprise Bankruptcy Law and the Coordination and Connection with the Insurance Law [J]. Application of Law, 2022, 2022(9): 152-158.

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