China increases foreign ownership stake in insurance companies’ capital
The Chinese government is intent on increasing foreign ownership in insurance companies’ capital Currently capped at 50%, this shareholding is poised to increase in the next three years to 51%. Full foreign ownership will be permitted for five years after this first phase. The decision was announced on November 9, 2017, one day after US President Donald Trump's visit to China.
To date, China is home to 57 foreign insurance companies from 16 countries accounting for 6% of the life market and 2% of non life activities.
