What Conditions Must a Proposed Director of an Insurance Enterprise Satisfy?

Short answer: The Director (General Director) proposed for appointment of an insurance enterprise must satisfy conditions on civil act capacity, professional qualifications, management experience, and professional reputation under Clause 2, Article 24 of Decree 46/2023/ND-CP, and the appointment must be approved in writing by the Ministry of Finance before implementation.

Conditions for appointing the Director of an insurance enterprise

Under Clause 2, Article 24 of Decree 46/2023/ND-CP providing details for the Law on Insurance Business 2022, the Chairperson of the Board of Directors (Chairperson of the Members’ Council), General Director (Director), and Actuary proposed for appointment must satisfy the following conditions:

• Not falling into the category of persons prohibited from managing enterprises under the Law on Enterprises 2020 (amended by Law No. 76/2025/QH15);
• Having qualifications and experience suitable for the position to be held under the law on insurance business;
• Meeting standards of professional ethics, with no serious legal violations.

Who must approve the appointment of the Director of an insurance enterprise?

The appointment or change of the Chairperson of the Board of Directors, General Director (Director), and Actuary of an insurance enterprise must be approved in writing by the Ministry of Finance before the enterprise implements the appointment. The insurance enterprise submits the dossier for approval under Decree 46/2023/ND-CP.

What does the dossier for approval of the appointment include?

The dossier includes the application letter of the insurance enterprise, the document of the competent authority on the appointment of the proposed personnel, judicial records, and documents proving compliance with the standards and conditions under Decree 46/2023/ND-CP.

Applicable legal basis

• Law on Insurance Business 2022 (No. 08/2022/QH15).
• Decree 46/2023/ND-CP providing details for some articles of the Law on Insurance Business: Article 24.
• Law on Enterprises 2020 (59/2020/QH14), amended by Law 76/2025/QH15 (persons prohibited from managing enterprises).

Notes when applying current legal regulations

This article belongs to the Corporate & M&A Knowledge group and is presented for reference, helping readers understand the legal issue at an overview level before preparing dossiers or conducting transactions.

Legal regulations may change according to time, locality, dossier type, and specific circumstances. Where it is necessary to determine exactly the applicable legal basis for your dossier, you should contact the lawyers of ANT Legal at 0966.475.966 for verification and advice before proceeding.

Common risks to note

• Applying legal documents that have been amended, supplemented, or replaced.
• Preparing insufficient dossiers, documents, or evidence.
• Misunderstanding conditions, procedures, time limits, or competent authorities.
• Signing, submitting dossiers, or conducting transactions without fully assessing legal risks.

How can ANT Legal assist?

ANT Legal assists in reviewing specific situations, checking dossiers, determining the applicable legal basis, advising on courses of action, and representing clients in working with individuals, organizations, or competent authorities when necessary.

For quick advice, you can contact a lawyer at 0966.475.966.

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