PRACTICES

JT&N has maintained a dedicated insurance team for nearly 30 years.  JT&N Insurance Practice covers:

• insurance joint venture and M&A

• insurance institution establishment

• insurance institution corporate governance consulting

• insurance business model and product design related compliance consulting

• insurance contract review

• insurance dispute resolution

• insurance funds investment

• protection of personal and commercial information

With solid knowledge and extensive experience in China’s insurance laws, regulations and regulatory rules, we are well-positioned to provide a full range of insurance law services. We have assisted our clients around the world with numerous groundbreaking deals in the insurance industry in China.

We have maintained a deep understanding of insurance laws, regulations and regulatory rules, and have closely monitored legal and regulatory developments as well as market practices. Since the establishment of the China Insurance Regulatory Commission (now CBIRC) in 1998, we have built up a good working relationship with the regulators, which enables us to accurately and timely understand the regulatory rules and capture the implementation nuances. JT&N has assisted CBIRC in gathering advanced experience from the global insurance market, and participated in the drafting process of certain regulatory rules.  We routinely consult the insurance regulators on a formal or informal basis, which is of great significance to our clients.  JT&N has also been engaged as one of the few members of the law firm panel for the Insurance Association of China. 

Excellent Team of Lawyers

All the partners and lawyers in our insurance practice team graduated from famous law schools in China and abroad.  Some of the lawyers hold legal practice qualifications not only in China but also in the United States and Hong Kong, or have worked in the law firms in the United States or Hong Kong. JT&N has brought together a group of outstanding lawyers with superb skills who are familiar with insurance laws, regulations and regulatory rules, and have experience in a wide range of practice areas.  We are able to provide practical and innovative solutions for our clients. We are adept at helping clients deal with legal and regulatory challenges faced by the Chinese insurance industry in all aspects and from multiple perspectives.

Extensive Experience in Insurance Law

For years, JT&N insurance team has been on the legal forefront in the insurance industry in China, working extensively on insurance M&A, insurance institution establishment and day-to-day compliance, insurance institution corporate governance consulting and etc. Over the years, we have assisted our clients in the structuring and execution of numerous groundbreaking deals in the insurance industry in China.  In 2019, JT&N insurance team successfully assisted Allianz SE in the establishment of Allianz (China) Insurance Holding Co., the first wholly foreign-owned insurance holding company in China. From 2020 to 2022, JT&N assisted Allianz (China) Insurance Holding Co. with the establishment of the first indirectly wholly foreign-owned insurance asset management company in China. From 2020 to 2022, JT&N assisted Allianz (China) Insurance Holding in the purchase of 49% of the equity interest of Allianz China Life Insurance Company, making it the first wholly foreign-owned life insurance company converted from a joint venture. From 2016 to 2023, JT&N assisted Chubb with a series of acquisitions of the shares of Huatai Insurance Group, making Huatai the first foreign-controlled insurance holding company converted from a domestically-owned one in China.

Good Interaction with Regulators

JT&N has often been invited to participate in the national and local legislative processes and in the formulation of relevant judicial interpretations, and has also provided legal services for the Chinese governmental authorities on the international stage.  JT&N has maintained a good working relationship with CBIRC, and has also been one of the few members of the law firm panel for the Insurance Association of China.

Listed below are some representative clients in the insurance industry, we have served during the recent years (not an exhaustive list, and in no particular order) :

• Domestic Insurance Institutions

Dajia Insurance Group, Taikang Group, Ping An Insurance, New China Life Insurance, Sinosure, PICC, China Life, CCIC-Net, Alltrust, Aeon Life, Shanghai Life, Greatwall Wealth IAMC, CCB Life Asset Management, China Life Investment Management Company, PICC Capital Equity Investment Company, CITIC Prudential Life Insurance, Dingcheng Life Insurance

• Foreign Insurance Institutions

Allianz SE, Chubb, AERGO, AXA, AIG, AIA, Pramerica Fosun, ERGO, Liberty Insurance, Swiss Re Corporate Corporate Solutions Insurance, Tokio Marine & Nichido Fire Insurance, Sino-US United MetLife Insurance, Munich Re, Swiss Re, SCOR SE, AXA XL Re, RGA Re, Mercer, Marsh, Guy Carpenter, Genworth Financial, HSBC Life

Representative Experience

• Allianz SE in establishing Allianz (China) Insurance Holding Co., Ltd., the first wholly foreign-owned insurance group company in China, and obtaining approval for business commencement from CBIRC; providing day-to-day legal advice for its China operations

• Chubb Group in purchasing shares of Huatai Insurance Group from almost 20 different shareholders, making Huatai the first foreign-controlled insurance and financial services holding company, being the second largest acquisition in the insurance sector in China

• Allianz (China) Insurance Holdings Co., Ltd. in applying for the establishment of Allianz Insurance Asset Management Co., Ltd, the first  indirectly wholly foreign-owned insurance asset management company in China, and obtaining approvals for preparation establishment and business commencement

• Allianz in acquiring 49% equity interest in Allianz China Life Insurance Co., Ltd, making it the first wholly foreign-owned life insurance company converted from a joint venture

• AXA XL China in converting its direct insurance license into a reinsurance license, and provided day-to-day legal advice for its China operations

• Shenzhen Bolin Asset Management Co., Ltd. and other domestic investors in acquiring all the equity interest held by HNA group in Shin Kong HNA-Life Insurance Company

• Tsinghua Tong Fang Company in acquiring a 50% equity interest in AEGON-CNOOC Life Insurance Company held by China National Offshore Oil Investment & Holding Corporation, negotiating the joint venture with Aegon International B.V., and obtaining approval from CBIRC

• ERGO Insurance Group and Shandong State-owned Assets Investment Holding Co., Ltd. in establishing a joint venture life insurance company in China

• Assisted a European multinational insurance group to increase its stake in a joint venture life insurance company in China

• Assisted in the post-investment management of a European multinational insurance group's property and casualty joint venture in China

• ACE Group in handling the PRC legal matters for its global merger with Chubb

• XL Capital Group in handling the PRC legal matters for its merger with Catlin Group and for the merger of XL Capital Group with AXA

• Towers Watson in handling the PRC legal matters for its global merger with Willis

• Citigroup in the sale of its 20% interest in China Guangfa Bank to China Life, being the second largest acquisition in the banking sector in China

• Marsh & McLennan Companies, Inc. in acquiring HSBC Broker’s business in China; providing day-to-day legal services to Marsh (China) Insurance Brokers

• Mercer Consulting Co. in acquiring a stake in a local insurance brokerage company; providing day-to-day legal advice to Mercer Insurance Brokerage Company

• ERGO Fangsheng Insurance Brokerage Co., Ltd. in applying for the Insurance Brokerage Business Permit and preparing the whole set of application documents

• A Singapore company engaged in health data analysis and management in acquiring insurance intermediaries in Shanghai and Beijing

• Primary Group in acquiring an insurance brokerage company and its affiliates; providing day-to-day legal advice

• Liberty Mutual Insurance Company in obtaining its China license, forming a P&C insurance company in China and its proposed sale of its equity interest of its wholly-owned P&C insurance company in China, Liberty Mutual Insurance Company, to a domestic private company

• Lloyd’s of London in establishing its wholly-owned reinsurance company in Shanghai, converting its China reinsurance license into a direct insurance license

• HSBC in establishing its life insurance operation and obtaining Stage II approval for its life insurance joint venture in China

• John Hancock Financial Services Inc. in negotiating its life insurance joint venture in China and obtaining its China license

• Reinsurance Group of America in obtaining its China license

• Hannover Rück SE in obtaining its China reinsurance license, establishing its first branch in China, and establishing a comprehensive reinsurance operation

• Citi Insurance of Citigroup in negotiating its life joint venture in Shanghai and obtaining its life insurance license in China

• Fidelity Guaranty & Life in the acquisition of the company by Anbang Insurance Group

• Apax Partners LLP, a major European private equity, in preparing and bidding for a minority stake of an existing life insurance company in China

• Legal and General Group Plc in negotiations with China Construction Bank concerning forming a joint venture life insurance company in China through acquiring a major stake in an existing life insurer

• Lockton Companies International Limited in obtaining an insurance brokerage license

• Och-Ziff Capital Management Group in its investment in a major insurance agency in China

• China Life Insurance Company Limited to complete an insurance fund debt investment project

• Taikang Insurance Group Inc. in compliance review of insurance products

• Genworth Financials Inc. in negotiating reinsurance for specific insurance products with PICC Property and Casualty Company Limited

• Assisted a direct sales company of a major European insurance group in establishing new distribution channels in China

• Kyobo Life in developing its business strategy in China and establishing its China representative office

• United Health in applying for approvals and setting up representative offices in China

• HansMerkur Health Insurance in establishing a representative office in China

• Samsung Life in formulating its China strategy and its online insurance business models in China

Honors and Awards

1. Chambers and Partners ranks JT&N Insurance Practice as a top insurance practice and ranks Elsie Shi, George Yu and Elizabeth Lan Lan as top insurance lawyers in China

2. Legal 500 ranks Elsie Shi as an Leading Individual, George Yu as a Recommended Lawyer, Celia Luan and Eileen Liu as Rising Stars in the insurance practice area

3. Legalband consecutively ranks JT&N Insurance Practice as a top insurance practice. Elsie Shi is one of the Top 15 Insurance Versatile Practitioners ranked by Legalband

4. “Insurance and Reinsurance Award” by the China Business Law Journal

5. JT&N Recognized as “Insurance Firm of the Year” by China Law & Practice

6. Asialaw Profiles ranks the JT&N insurance team as the best insurance legal team in China