Year 2008

CISFC completed the asset takeover of the insurance security fund in December 2008. As of January 1, 2009, CISFC has officially started the management of CISF. 

A delegation headed by the director of the Finance Department of the Ministry of Finance visited and instructed CISFC by work in November 2008. 

China Insurance Regulatory Commission, the Ministry of Finance and the People’s Bank of China jointly issued the new Measures for Administration of the Insurance Security Fund in September 2008, thus CISFC was officially established. 

CISFC held a meeting of the Board of Directors in August 2008, and adopted five proposals, including the Rules of Procedure of the Board of Directors. 

CISFC went through the company registration procedure in June 2008.