THE country's 141,300 insurance agents are to be reclassified into three categories, each with different minimum capital requirements and business options to achieve better market order, according to the China Insurance Regulatory Commission.

The commission said insurance agents with registered capital of no less than 10 million yuan (US$1.3 million) will be allowed to serve as agents for an unlimited number of insurance companies.

Agents with no less than 500,000 yuan in registered capital can serve no more than five insurance companies, while those with no registered capital requirement can only sell insurance products for a single company.