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Insurance Update - CIRC Issues Insurance M&A Measures: What are the impacts and applications?

January 2015 - Corporate & Commercial. Co-Publishing von Norton Rose Fulbright.

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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.