i. Chinese and foreign-funded insurance companies established with the approval of the insurance regulatory authorities under the State Council and legally incorporated within the territory of China.

    Other insurance organizations that conduct the commercial insurance business as stipulated by the laws and administrative regulations.

    ii. The following types of business are not covered by the insurance security fund and thus are not subject to the payment of the insurance security fund:

    1. Overseas direct insurance business underwritten by insurance companies;

    2. Ceded reinsurance business of insurance companies;

    3. Policy-backed insurance business as determined by the State Council in which the final risk shall be borne by the national fiscal department;

    4. Enterprise annuity management business in which insurance companies are engaged, such as the enterprise annuity trustee and account manager business;

    5. Insurance business run by captive insurance companies;

    6. Other types of business that are not covered by the insurance security fund as determined by the insurance regulatory authorities under the State Council and relevant departments.