by Yu Dan, Dong Xin
For foreign investors, who are eager for an admission ticket into the Chinese insurance market, obtaining an insurance intermediary license in China would be one of the considerable options.
A Chinese insurance agency company, as an investable target, undoubtedly has a great attraction to foreign investors. Comparing with insurance brokerage license, it is more difficult for foreign investor to get an insurance agency license in China. In practice, the China Banking and Insurance Regulatory Commission (the “CBIRC”) has classified as foreign-invested insurance agency companies for those companies with the total foreign shareholding ratio of more than 25%. Therefore, for those foreign investors, who prefer to hold control over a Chinese insurance agency, it is logical to consider either way of setting up a new foreign-invested insurance agency company or acquiring an existing foreign-invested agency company. This article is aimed to give a brief introduce on the current situation of foreign-invested insurance agencies in China.
Authored by Yu Dan <yudan@anjielaw.com> , Dong Xin <dongxin@anjielaw.com> at AnJie Law Firm