作者:金杜律师事务所

2016年6月7日,中国太平洋保险(集团)股份有限公司(简称“太保集团”)旗下子公司中国太平洋财产保险股份有限公司(简称“太保产险”)与百度鹏寰资产管理(北京)有限公司(简称“百度鹏寰”)签署相关交易文件,共同设立一家股份制财产保险公司(简称“新公司”)。本项目是太保产险和百度双方在互联网金融领域的重大战略举措,在中国保险业的发展过程中具有标志性意义。
Continue Reading 金杜助力太保产险与百度合作开创“互联网+车险”新模式

作者:金杜律师事务所

在金杜律师事务所协助下,经国务院及中国保险监督管理委员会批准成立的全国性保险综合服务平台和保险运营基础平台——上海保险交易所股份有限公司设立,并于2016年6月12日隆重举行揭牌仪式。上海保险交易所股份有限公司由91家发起人发起设立,注册资本为人民币22.35亿元。
Continue Reading 金杜助力中国首家保险交易所—-上海保险交易所正式设立

By Susan Ning, Weiqing Qiu and Kate Peng King & Wood Mallesons’ Commercial & Regulatory Group

Ountitledpeng_katen February 3, 2016, China’s State Administration for Industry and Commerce (“SAIC”) announced its first decision in 2016: SAIC’s Jiangxi provincial branch imposed penalties on 17 local insurance companies for concluding and implementing anticompetitive agreements to divide the casualty insurance market for construction projects in Jiangxi. The fines imposed in the case ranged from 5,934 ($902) yuan to 2,091,970 yuan ($317,979).
Continue Reading A Simple Tip to Undertakings: Coinsurance or JV Arrangement Cannot Circumvent Cartel Prohibition

作者:金杜律师事务所

2015年10月26日,中国再保险(集团)股份有限公司(简称“中再集团”)在金杜律师事务所(简称“金杜”)专业团队的协助下,成功完成在香港联交所主板上市(股份代码为1508)。中再集团本次全球新股发售股份共计超过57.69亿股H股(超额配售权行使前),其中约90%的股份为国际发售,剩余约10%的股份为香港公开发售,发售价为每股H股2.70港元,共募集约156亿港元。

中再集团是再保险保费规模亚洲最大、全球第八的综合性再保险集团。中再集团作为中国境内唯一的本土再保险集团此次完成香港上市是中国保险业向国际化迈出的重要一步,具有里程碑意义。

金杜在该项目中担任发行人中国律师,全程参与了中再集团H股上市各项工作。项目负责合伙人为杨小蕾律师、袁敏律师以及李元媛律师。

至此,金杜已先后成功协助包括中国人民财产保险股份有限公司、中国人寿保险股份有限公司、中国平安保险(集团)股份有限公司、中国太平洋保险(集团)股份有限公司、新华人寿保险股份有限公司、中国人民保险集团股份有限公司、中国再保险(集团)股份有限公司等七家保险公司完成上市项目。

By Denis Brock Stuart Valentine KingandWoodMallesons’ Hong Kong Office

The English High court’s decision in McManus & Ors v European Risk Insurance Co[i] indicates that the blanket notification of claims (or of circumstances which might give rise to a claim) is likely to be sufficient to trigger an insurance policy. It also highlights the need for an insured to promptly notify claims or circumstances when they first discover them.
Continue Reading The blanket approach – Green light given to “catch-all” insurance notifications

By Denis Brock   Stuart Valentine  Jansy Man  King and Wood Mallesons’ Hong Kong office

The recent decision of Re AXA (Hong Kong) Life Insurance Co Ltd[i] highlights the Court’s role in the transfer of a Hong Kong long term insurance business. In this instance, the Court approved the intra-group transfer of AXA (Hong Kong) Life Insurance Company Limited’s (“AXA HK”) long term business to AXA China Region Insurance Company (Bermuda) Limited (“AXA CRIB”).
Continue Reading Court as gatekeeper – the transfer of long term insurance business in Hong Kong

By Yuan Min and Li Wenzhi  King & Wood’s Insurance Group

In order to regulate transfers of insurance business by insurance companies, the China Insurance Regulatory Committee (CIRC) recently issued the Provisional Measures on Administration of Insurance Business Transfers by Insurance Companies (the "Measures"), which will become effective on October 1, 2011.

"Transfers of insurance business" refers to when an insurance company decides to transfer all or part of its insurance business to another insurance company through mutual consultation and negotiation. This transfer mechanism is a way for insurance companies to voluntarily exit from the insurance market.  The Measures do not apply to the following circumstances: (i) an insurance company that engages in the life insurance business and is transferring its insurance business as a result of being closed down or being declared bankrupt; (ii) an insurance company that fails to meet the prescribed solvency requirements and is forced by the regulatory committee to transfer its insurance business; and (iii) an insurance company in the reinsurance business.Continue Reading Not Your Average Assignment of Contracts: New Provisional Measures Governing Transfers of Insurance Business

作者:袁敏、力文智 金杜律师事务所保险组

为规范保险公司保险业务转让行为,保监会近日颁布了《保险公司保险业务转让管理暂行办法》(以下简称《办法》),并将于2011年10月1日正式实施。

保险公司的保险业务转让,是指保险公司在平等协商基础上将其经营的全部或者部分保险业务自愿转让给其他保险公司的行为。保险业务转让制度是保险市场退出机制的重要组成部分。经营有人寿保险业务的保险公司在被撤销或者破产情形下发生的保险业务转让,因偿付能力不足而被监管机构强制要求的保险业务转让,以及再保险业务,都不适用该《办法》。Continue Reading 保监会颁布保险公司保险业务转让管理暂行办法

By Yuan Min, Wang Jianzhao , and Kirby Carder, King & Wood Insurance Department, Beijing Office

Last Sunday during a press conference held during the National People’s Congress, China Insurance Regulatory Commission (CIRC) Chairman Wu Dingfu announced that the CIRC is currently creating its policy for the use of insurance premium funds to invest government subsidized affordable housing projects. He specifically stated that China does not have a legal barrier to insurance companies investing insurance funds in affordable housing projects, and he also said that the CIRC plans making Shanghai the first city where this is possible. However, he cautioned that the main priority in insurance fund investment must still be risk management because any investments must provide a return so that an insurance company’s duty to pay its policyholders claims can be met.Continue Reading The China Insurance Regulatory Commission has Announced that it will Pilot Allowing Insurance Funds to Invested in Affordable Housing Development Projects in Shanghai

By Yuan Min, Wang Jianzhao , and Kirby Carder, King & Wood Insurance Department, Beijing Office

During a press conference held last week during the National People’s Congress, China Insurance Regulatory Commission (CIRC) Chairman Wu Dingfu annouced that the the CIRC will set up an insurance exchange in Shanghai as part of the Chinese government’s goal of making Shanghai an international finance center. This official announcement shows that the CIRC is serious about setting up an exchange. Yet, at present this announcement probably should just be considered a statement of their intentions because the CIRC did not offer any details on what the purpose of that exchange will be or who will participate in that exchange.Continue Reading The China Insurance Regulatory Commission has Announced that it will Create a Pilot Insurance Exchange Project in Shanghai