European Union Chamber of Commerce in China

Insurance Working Group (Beijing & Shanghai)

Working Group Meeting

Friday, 13 June 2014, 4pm-6pm

The European Chamber is pleased to invite you to the next Insurance Working Group meeting on Friday, 13 June 2014 from 4pm-6pm at our Beijing and Shanghai offices.

We will have the pleasure of welcoming Ms. Lynn Yang, Partner at Norton Rose Fulbright who will give a presentation on the “Recently issued CIRC’s insurance M&A measures and the implications for both the industry and foreign players.”

On 21 March 2014, CIRC issued the Administrative Measures on the Acquisition and Merger of Insurance Companies (the Insurance M&A Measures) which will take effect from 1 June 2014. The Insurance M&A Measures apply to M&A activities whereby an insurance company is the target for a merger or acquisition. The target insurance company could be either a domestic or a foreign invested insurer. However, the Insurance M&A Measures will not apply to any equity investment by insurance companies in non-insurance companies in China or in overseas insurance companies.
 
This is the first time that CIRC has formally promulgated regulations governing M&A activities. This may provide a legal basis and guidance for insurers that are performing well to attract high quality capital and allow stronger insurers to invest in their weaker peers.

Agenda:

1.     Presentation on “Recently issued CIRC’s insurance M&A measures and the implications for both the industry and foreign players” by Ms. Lynn Yang, Partner at Norton Rose Fulbright

2.     Update on the Insurance Position Paper

3.     AOB

If you would like to attend this meeting in Shanghai, please contact Ms. Zoe Shi at zshi@europeanchamber.com.cn by COB, 12 June 2014.

If you would like to attend this meeting in Beijing, please contact Ms. LOU Ling at llou@europeanchamber.com.cn by COB, 12 June 2014.

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