Insurance asset management is one kind of typical commercial activities，while the contract plays an important role in the fundraising，investment，management and withdrawal. Therefore，the validity of the contract is the necessary condition to carry out insurance asset management normally and the flaw in the validity of the contract is one of the major legal risks faced by the participants in the investment. In the context of the implementation of the Civil Code，the article analyzed the impact of the Civil Code on the validity of insurance asset management contracts considering the strict regulation of China’s insurance industry，while focusing on the impact of the violation of mandatory provisions in the departmental regulations and regulatory documents.