Insurance; foreign firms in China

Clyde & Co LLP

Clyde & Co LLP is widely lauded for its expertise in claims, transactions and advisory matters. The Shanghai-based group’s insurance offering includes work relating to the substantial Belt and Road Initiative, high-profile incidents/losses and Covid-19-related policy coverage issues. Clients also appreciate the provision of both onshore and offshore services, as a result of the firm’s PRC joint law venture with Westlink Partnership. Leading both the firm’s China insurance and dispute resolution practices, Ik Wei Chong‘s broad practice includes assisting insurance companies with policy issues, defending claims, product liability and property and business interruption insurance. Also integral to the practice are senior consultant Victor Yang, who heads the firm’s mainland China credit insurance team and legal director Christian Liu, who acts in insurance-related disputes. Former consultant Michael Cripps left the firm in June 2021, relocating to Australia.

Practice head(s):

Ik Wei Chong

Other key lawyers:

Victor Yang; Christian Liu; Canming Wang

Testimonials

Both foreign clients’ demand for Chinese laws and domestic clients’ demand for overseas laws can be obtained through the localized services and powerful network of affiliated law firms, which is very prescient. The obvious advantage of Clyde & Co is that it has both common law and civil law lawyers.’

Canming Wang has many years of experience in the court in China. He is familiar with insurance law and shipping law, and is a trustworthy dispute resolution lawyer.’

Team members have a rich professional background and good service attitude with high efficiency and transparent cost.’

Canming Wang is able to provide appropriate legal advice and professional service with high efficiency.’

Norton Rose Fulbright

Advising across the full spectrum of non-contentious insurance and reinsurance matters, Norton Rose Fulbright‘s China insurance practice expertise includes insurtech matters combined with a full service ranging from corporate M&A matters to cyber security. With over 20 years’ experience in China’s insurance and reinsurance sector, Lynn Yang heads the team from Shanghai; she advises international insurance and reinsurance companies and financial institutions on their strategic entrances into the China market. Promoted to counsel in April 2021, the experience of prominent lawyer Ai Tong includes transactions and regulatory matters involving investments in China by foreign insurance/reinsurance companies.

Practice head(s):

Lynn Yang

Other key lawyers:

Ai Tong

Testimonials

Norton Rose Fulbright’s insurance team has unique advantages and outstanding performance in the insurance field, tracking various regulatory policy changes in the global insurance market in a timely manner, and providing very helpful suggestions to clients.’

The insurance team led by Lynn Yang is a very young and dynamic team, which keeps smooth communication with clients and responds quickly, and is able to solve various insurance legal problems for insurance company clients in a timely and effective manner.’

With good coordination ability, they not only cooperate with global network teams, but also work with local law firms with professional advantages based on the needs of international clients, to meet the legal service needs of clients involving multiple countries and cross-disciplinary fields. Excellent partners such as Lynn Yang from Shanghai Office.’

With excellent English communication skills, they are familiar with insurance laws and regulations, pay attention to client needs and actively allocate resources to meet diversity requirements.’

They are able to provide the insurance (reinsurance) industry with a full range of services such as corporate governance, capital use, insurance business.’

Lynn Yang (Yang Rui) provides timely and comprehensive services, and is able to coordinate the lawyer resources of Norton Rose Fulbright’s Hong Kong, UK and US teams to provide services.’

Key clients

AIG

AXA

China Reinsurance Group

China Property & Casualty Reinsurance Company

China Southern Fund Management Company

HSBC Insurance

Work highlights

  • Advised HSBC Insurance on the launch of its first wholly-owned fintech services company (HSBC Fintech Services (Shanghai) Co) in China’s Free Trade Zone (Lingang New Area in Shanghai).

Linklaters

Widely recognised as a leading firm for insurance sector work in Asia, Linklaters‘ team advises leading insurance companies, banking and other financial institutions on the management of their commercial activities, liabilities, risks and sector specific regulations. This is combined with M&A, corporate and capital markets work in the insurance sector. It has also developed substantial expertise in regional bancassurance transactions (both life and non-life), as well as its notable experience in single-territory deals. A senior international M&A lawyer with over 35 years’ experience, Asia insurance practice head Matthew Middleditch specialises in the financial sector and Christopher Yip’s expertise lies in cross-border M&A within the insurance and financial services sectors.

Practice head(s):

Matthew Middleditch

Other key lawyers:

Christopher Yip

Testimonials

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Key clients

FWD Group

The Bank of East Asia

Peak Reinsurance Company

Asia Commercial Bank

AXA

HSBC

Saigon Commercial Bank

VP Bank

Techcombank

Dah Sing Bank

Work highlights

  • Advised Asia Commercial Bank on its 15-year insurance distribution partnership with Sun Life of Canada.
  • Advised the Bank of East Asia on the auction sale of its life insurance business, BEA Life, and the transfer of a legacy life portfolio operated by Blue Cross.
  • Advised FWD Group on the disposal of its general insurance business, including digital general insurer bolttech, to Pacific Century Group.

Baker McKenzie FenXun

Acting for multinational insurers in China, Hong Kong and the US, Baker McKenzie FenXun‘s full-service Hong Kong-based insurance practice advises across transactional, regulatory compliance and enforcement work. Typical areas of work for the team include M&A transactions in the insurance sector, advising on the regulatory aspects of portfolio transfers and increasingly, advising on investigations. The practice is also developing a strong name for cutting-edge insurtech matters. Martin Tam is widely respected for his advice to large insurers on corporate transactions and financings, along with complex regulatory issues and investigations.

Practice head(s):

Martin Tam

Other key lawyers:

Ada Hu; Robert Wright; Bryan Ng

Testimonials

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Key clients

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Work highlights

  • Assisting the Food and Health Bureau of the Hong Kong Special Administrative Region with the ongoing regulation and approval of the Voluntary Health Insurance Scheme in Hong Kong.
  • Advised MetLife on the sale of MetLife’s Hong Kong life insurance business to FWD Management Holdings (a member of the FWD Group).
  • Advised Standard Chartered Bank on the amendment and renewal of a master credit facility for a global insurance company (and its various subsidiaries) and/or branches in BVI, Bermuda, Singapore, Thailand, Indonesia and Malaysia.

Herbert Smith Freehills

Herbert Smith Freehills‘ insurance practice advises on a broad range of contentious, transactional and regulatory matters. Its work is typically complex and multi-jurisdictional in nature, and it frequently works with insurance specialists from its network on cross-border matters. The practice is especially strong in contentious insurance work, working in concert with its pre-eminent disputes group. Heading the insurance practice in Hong Kong, Gareth Thomas is a leading authority on all insurance law and regulations; and Tommy Tong has substantial experience in advising insurance companies, banks and private equity funds on their insurance-related transactions.

Practice head(s):

Gareth Thomas; Tommy Tong

Other key lawyers:

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Key clients

Hong Kong Rugby Union

Work highlights

  • Advised Hong Kong Rugby Union on event cancellation insurance, in relation to claims arising from the cancellation of the 2020 Hong Kong Sevens (due to COVID-19).

O'Melveny

O’Melveny‘s Hong Kong insurance practice is led by Denis Brock, who has an established track record in insurance litigation and arbitration, together with insurance regulatory matters. Brock is also notable for being one of a small number of Solicitor Advocates in Hong Kong, who enjoys full rights of audience before the courts. With all-round insurance sector experience, key support is provided by counsel Kieran Humphrey, who is also skilled in contentious and regulatory matters; he acts on some of Asia’s largest insurance disputes, and assists clients on regulatory issues.

Practice head(s):

Denis Brock

Other key lawyers:

Kieran Humphrey

Testimonials

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Key clients

Aon

AIA