On November 17, 2021, Allianz China Life Insurance Co., Ltd. (Allianz China Life) received China Banking and Insurance Regulatory Commission Shanghai Office’s approval on CITIC Trust Co., Ltd.’s transfer of 49% equity interest in Allianz China Life to Allianz (China) Insurance Holding Co., Ltd. (Allianz China Holding).
Upon completion of the transfer, Allianz China Holding holds 100% equity interest in Allianz China Life, and Allianz China Life becomes the first life insurance company that is converted from a joint-venture life insurance company to a sole-venture life insurance company.
JT&N advised Allianz China Life during the entire course of the transaction. The JT&N team was led by senior partners Elsie Shi and George Yu, and team members included Celia Luan, Eileen Liu, Vicky Wei and others.
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