China may relax limits on foreign life insurers
Thursday, 02 23 2017, Category: Insurance and Reinsurance, Country: Asia
China is looking at loosening restrictions on stake ownership limits by foreign life insurers in domestic firms in a move that could cause huge changes in the country’s insurance industry.
According to sources, the Chinese government may allow foreign entities to own more than 51% of life insurers, and possibly allow even wholly owned subsidiaries. If the plan pushes through, this could give international insurers’ market shares in China a huge boost, as most of them currently operate in a joint venture model.
Source: Insurance Business