Next Generation Partners

Insurance: foreign firms in China

Clyde & Co LLP

Clyde & Co LLP houses of a sizeable team of dedicated insurance practitioners, who cover the full range of non-contentious and contentious matters, including coverage disputes, securities class actions and professional indemnity cases. Benefiting from the firm’s PRC joint venture Clyde & Co Westlink JLV, the practice is well placed to assist insurers, reinsurers, brokers, banks, airlines, and charterers, among other with onshore and offshore matters. Leading the group is Ik Wei Chong, who has extensive experience in dispute resolution and investment transactions, with a particular focus on the China and ASEAN regions. Victor Yang is recommended for contentious work, including litigation and arbitration involving professional indemnity, financial lines, property damage, personal injury and product liability. Also noted are legal director Christian Liu, who is well versed in insurance and shipping disputes, and Canming Wang.

Practice head(s):

Ik Wei Chong

Other key lawyers:

Victor Yang; Christian Liu; Canming Wang


‘Be able to provide local and global legal advice for insurers in a timely manner.’

‘Advice on hot topics such as the impact of Covid-19, inflation, etc. Available online training courses.’

Key clients


AXA Tianping

China Life Property & Casualty



Tokio Marine & Nichido Fire Insurance

Norton Rose Fulbright

Norton Rose Fulbright is noted for its wealth of experience in acting for the major financial institutions and insurance and asset management companies operating in the region, including AIG, Allianz, AXA and HSBC. Covering the full spectrum of insurance and reinsurance contentious and non-contentious work, the practice is regularly instructed on M&A, strategic investments, warranty and indemnity matters, data privacy and cybersecurity issues and joint ventures. The team is overseen by counsel AI Tong, who is a key contact for transactional and regulatory matters related to foreign investment in China.

Practice head(s):

Ai Tong

Key clients



China Reinsurance Group

China Property & Casualty Reinsurance Company Ltd

China Southern Fund Management Company

HSBC Insurance (Asia) Limited

Work highlights

  • Advised a Chinese life insurance subsidiary of a leading UK financial institution group on corporate governance matters in response to the new regulatory requirements implemented from 2021.
  • Acted for a leading European insurance group on its distribution channel in China, in particular with regards to Greater Area Bay related opportunities.
  • Assisted a major Chinese insurance group in respect of its overseas insurance business.


The insurance practice at Linklaters houses experts from a wide range of fields, including corporate and M&A, capital markets, and employment and incentives. In addition to its notable strength in bancassurance matters, the group stands out for its expertise in large cross-border transactional work, which attracts a strong following of major banks, financial sponsors and insurance firms. On the international front, the team enjoys the ability to leverage the firm’s large network and partnership with Chinese firm Zhao Sheng Law Firm. The practice was recently boosted with the arrival of M&A and insurance specialist Tracy Whiriskey, who joined the firm in April 2022 from Ashurst. Leading the team is Matthew Middleditch, who draws on more than 35 years of experience in advising on private and public M&A and bancassurance arrangements. He works alongside Christopher Yip.

Practice head(s):

Matthew Middleditch

Other key lawyers:

Christopher Yip; Tracy Whiriskey

Key clients

FWD Group Limited

The Bank of East Asia Ltd

Peak Reinsurance Company Limited

Asia Commercial Bank



PT Sun Life Financial Indonesia

VP Bank


Dah Sing Bank


Work highlights

  • Advised on the sale of Blue Cross (Asia Pacific) Insurance, a wholly-owned subsidiary of BEA, to AIA Group Ltd.
  • Acted for AXA and Affin Bank Berhad (Affin Bank) on the sale of AXA Affin General Insurance (AAGI) and AXA Affin Life Insurance (AALI) in Malaysia to Generali, for total cash proceeds of MYR 688m (approximately €140m).
  • Advised Citi, Goldman Sachs, CLSA and HSBC (as Joint Global Coordinators) and other bookrunners in respect of a follow-on equity offering by Prudential plc in Hong Kong.


Acting for leading intermediaries, insurance companies, and financial institutions operating in China, Hong Kong and the broader Asia Pacific region, O'Melveny‘s Hong Kong-based team has a longstanding reputation in the market for handling high-profile insurance disputes and regulatory matters. The team’s offering also covers transactional work, including the acquisition of insurance businesses across Asia. Litigator and arbitrator Denis Brock, who has full rights of audience before all courts in Hong Kong, leads the team, which includes Kieran Humphrey, who is recommended for financial lines and casualty insurance claims, regulatory investigations, fraud allegations and product liability matters.

Practice head(s):

Denis Brock

Other key lawyers:

Kieran Humphrey


‘Advice on complex sponsorship arrangement.’ 

‘The team is very responsive, practical and commercial. I usually work with Kieran Humphrey and Denis Brock.’

‘Pragmatic and industry-informed advice, with a personal touch.’

Key clients



Baker McKenzie FenXun

The insurance team at Baker McKenzie FenXun stands out for its proven track record in handling regulatory compliance, enforcement actions, portfolio transfers and investigations for multinational insurers, financial institutions and intermediaries operating in China and the broader Asia Pacific region. In addition to its strength in regulatory matters, the practice is geared to advise on M&A, investment transactions and licensing applications. Leading the team is Martin Tam, who is a key contact for general corporate matters, restructurings and regulatory investigations. Dispute resolution is the area of expertise of Bryan Ng while Ada Hu is recommended for investment matters.

Practice head(s):

Martin Tam

Other key lawyers:

Bryan Ng; Ada Hu

Key clients

Allianz X

Government of the Hong Kong Special Administrative Region (HKSAR)

Hong Kong Federation of Insurance


Standard Chartered Bank

Swiss Reinsurance Company Ltd

Zurich Insurance

Work highlights

  • Assisted Zurich Insurance with a major transfer of the life insurance portfolio from a Hong Kong branch to a newly set up Hong Kong subsidiary.
  • Advised the Food and Health Bureau of the HKSAR on the ongoing regulation and approval of the Voluntary Health Insurance Scheme (VHIS) in Hong Kong.
  • Acted for Allianz X on its investment into the WeLab consortium that acquired a controlling stake in PT Bank Jasa Jakarta for $240m to launch a digital bank in Indonesia.

Herbert Smith Freehills

With experts from its insurance and dispute resolution teams, Herbert Smith Freehills LLP is particularly known for its strong expertise in complex contentious and regulatory matters, including financial lines and professional negligence claims. On the non-contentious side, the group handles cross-border M&A, joint ventures, capital markets transactions and corporate reorganisations. Gareth Thomas, who is especially sought after by leading international and regional financial institutions, insurers and corporates, leads the team alongside Tommy Tong, who is recommended for M&A and private equity matters. At the associate level, Jocelyn Heng is noted for her expertise in dispute resolution.

Practice head(s):

Gareth Thomas; Tommy Tong

Other key lawyers:

Jocelyn Heng