Abstract: The State Council′s “No.10 National notice of insurance industry” points that insurance funds should be the most important corporate investor in stock market. And this policy requires the insurance industry to support the development of stock market persistently and stably. But recent insurance funds placarding draws a lot of dissatisfaction of the public. Actually those problems in the process of placarding reflect many short boards of supervision rules. In order to settle those problems, such as short term operation, supervision measures should be taken based on insurance supervision and stock supervision. For the former, insurance supervision involves two sides-underwriting and investment. The side of underwriting should emphasize risk safeguard, returning to the nature of “insurance surname insurance”; the side of investment should ensure asset-liability matching, guiding insurance funds into value investing. For the latter, we should perfect supervision rules of insurance funds and persons acting in concert placarding, estimate the concentration risk precisely, strengthen the obligation of information disclosure, and establish the rule of penetrating supervision.

Key words: insurance funds placarding, persons acting in concert, concentration risk, information disclosure, penetrating supervision