Shedding New Light on the Regulation of Representative Offices in China of Foreign Insurance Institutions

Repealing its 1999 predecessor, the new Procedures improves upon the 'foreign insurance institutions' definition, administrative examination and approval, and prudential regulations.

7 minute readFebruary 29, 2004 at 11:58 PM

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By Dr. Xu Guojian Partner & Lu Guoming & Pek-Siang Tee, Legal Assistant Boss & Young, Shanghai

The CIRC promulgated the 1999 Procedures on November 26 1999. The 1999 Procedures played an important role in the administration of representative offices in China of foreign insurance institutions. In recent years, however, great changes have taken place in the insurance industry.

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