License to Establish the Insurance Agency (For legal entity)

English original Any individual intending to represent the insurance company in sales and implement the insurance contract as agreed with the insurance company on the condition that the insurance agent does not receive a salary from the insurance company but shall receive incentives as agreed with the insurance company. The insurance agent (Individual) can only represent one insurance company per one type of insurance.

Chinese Any 个人 intending to represent the insurance 公司 in sales and implement the insurance contract as agreed with the insurance 公司 on the condition that the insurance agent does not receive a salary from the insurance 公司 but shall receive incentives as agreed with the insurance 公司. The insurance agent (个人) can only represent one insurance 公司 per one type of insurance.

1. Be a legal entity with the business operating license in accordance with the regulations and the laws of Lao PDR.
2. Have an official office and organizational structure.
3. Have efficient human resources with specific knowledge, certificates, or degrees in insurance
4. Have a degree in insurance, certificates of insurance exams or training
5. Have a minimum of registered capital of 50 million LAK
6. Have a contract for being a representative for the insurance company
7. The license for an insurance agent has never been revoked for 5 years prior to the date of application for the license.

• Law on Insurance (Revised) 06/NA · 21.12.2011

  Lao original ກົດໝາຍວ່າດ້ວຍ ການປະກັນໄພ (ສະບັບປັບປຸງ)

  Chinese Law on Insurance (Revised)

• Instruction Implementing the Law on Insurance 539/MOF · 19.02.2014

  Lao original ຄຳແນະນຳຂອງລັດຖະມົນຕີກ່ຽວກັບການປະຕິບັດກົດໝາຍວ່າດ້ວຍການປະກັນໄພ

  Chinese Instruction Implementing the Law on Insurance

• Decision on Regulations on Management and Operation of Insurance Business 3058/MOF · 27.09.2018

  Lao original ຂໍ້ຕົກລົງວ່າດ້ວຍລະບຽບການບໍລິຫານຄຸ້ມຄອງ ແລະ ການດຳເນີນທຸລະກິດປະກັນໄພ

  Chinese Decision on Regulations on Management and Operation of Insurance 业务

• Instruction on the Issuance of the Insurance Operating Licenses 770/MOF · 21.03.2016

  Lao original ຄຳແນະນຳ ວ່າດ້ວຍ ການອອກໃບອະນຸຍາດດຳເນີນທຸລະກິດປະກັນໄພ

  Chinese Instruction on the Issuance of the Insurance Operating Licenses

Address of authority

Lao original ກົມຄຸ້ມຄອງວິສະຫະກິດລັດລົງທຶນ ແລະ ການປະກັນໄພ, ກະຊວງການເງິນ

English original Department of State-Owned Enterprise and Insurance Management, Ministry of Finance

Chinese 国有企业与保险管理司, 财政部

Has an expiry date

NO

Validity

12 months

Renewal process

Lao original ໃບອະນຸຍາດນີ້ ມີຜົນສັກສິດ 1 ປີ , ເລີ້ມຈາກວັນທີ 1 ມັງກອນ ເຖີງ ວັນທີ 31 ທັນວາ ແລະ ວິສາຫະກິດຕ້ອງຍື່ນຄຳຮ້ອງຂໍຕໍ່ໃບອະນຸຍາດ ແລະ ຊຳລະຄ່າທຳນຽມໃນການຕໍ່ໃບອະນຸຍາດ ພາຍໃນ 3 ເດືອນທຳອິດຂອງປີຕໍ່ໄປ (ບໍ່ໃຫ້ກາຍວັນທີ 31 ມີນາຂອງທຸກໆປີ).

English original This license shall be valid for 1 year, starting from 1 January to 31 December and the enterprise shall renew and pay the renewal fee within the first 3 months of the following year (within 31 March of every year).

Chinese This 许可证 shall be valid for 1 year, starting from 1 January to 31 December and the 企业 shall renew and pay the renewal fee within the first 3 months of the following year (within 31 March of every year).

English original 1. An insurance Agent (Legal Entity) shall acquire the insurance agent card from the Department of State-Owned Enterprise and Insurance Management first. 2. Must have a business registration certificate and submit the application for the business operating license with the Department of State-Owned Enterprise and Insurance Management, Ministry of Finance.

Chinese 1. An insurance Agent (法人) shall acquire the insurance agent card from the 国有企业与保险管理司 first. 2. Must have a 业务 登记 证明 and submit the 申请 for the 经营许可证 with the 国有企业与保险管理司, 财政部.