In dealing with PRC related insurance disputes, one question is often raised by Chinese court or arbitration institute: what is the insurance agent or the insurance broker? The relationship between the insurance agent, broker, insurer, policyholder, insured and beneficiary always
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How Foreign Insurers Set Up Non-insurance Subsidiaries in China ?
I. Purposes for setting up a non-insurance subsidiary
An obvious fact for foreign insurers is that they are not allowed to conduct insurance business within the territory of China (excluding jurisdiction as Hong Kong, Macau and Taiwan for the purpose…
PRC Regulation on Insurance Overseas Investment in Investable Varitetis
- When it comes to overseas investment, Chinese enterprises are required to comply with the rules of the National Development and Reform Commission (“NDRC”) and the Ministry of Commerce (“MOFCOM”) governing overseas investment, however, insurance companies which are subject
…
2023 Insurance Law Practice Overview of China
Ⅰ.INTRODUCTION
Over the past decade, China’s insurance industry has grown rapidly and held the second-largest premium market share worldwide for many years, contributing steadily to the global insurance market. In 2022, despite the repeated impact of the pandemic and the turbulent capital…
Shanghai Financial Court Interpreted the “Incorporated Clauseson Jurisdiction”in Reinsurance Contracts
Reinsurance contracts, like insurance contracts, follow the doctrine of utmost good faith. Since the reinsurance contract is a contract concluded between commercial entities such as insurance companies, who are endowed with professional insurance knowledge and insurance business experience, it is generally…
The Draft of New Judicial Interpretation on PRC Antitrust LawPart II: Changes to Substantive Matters
On November 18, 2022, the Supreme People’s Court of the People’s Republic of China (the “SPC”) published an announcement soliciting public comments on the draft of Provisions of the Supreme People’s Court of the People’s Republic of…
The Draft of New Judicial Interpretation on PRC Antitrust Law Part I: Changes to Procedural Matters
On November 18, 2022, the Supreme People’s Court of the People’s Republic of China (the “SPC”) published an announcement soliciting public comments on the draft of Provisions of the Supreme People’s Court of the People’s Republic of…
AnJie Broad Antitrust Practice in 2022: Year in Review
Welcome to Our Yearend Antitrust Practice Review
Standing at the beginning point of the new year, we take the opportunity to deliberate and reflect on the last twelve months. 2022 has been an extremely busy and productive year for AnJie…
Overview: TPA’s Boundary of Insurance Activities in China
I. Introduction
When referring to insurance, the first term that comes up with one’s mind is likely to be insurers, which are mostly known to operate insurance businesses. Nowadays, with the growth of the insurance industry, other entities also emerge…
Overview: Recognizing and Enforcing Foreign Arbitral Awards in China
I. Introduction
With international trade flows boosting, international commercial arbitration is becoming increasingly accepted among parties as an efficient means of resolving international economic and trade disputes, due to its confidentiality, flexibility, speed and enforceability. In the event of non-compliance with…