Magazine date:
May 2014 The Chinese Insurance Regulatory Commission (CIRC) has authorized three Japanese insurers to sell compulsory motor covers. These are Tokio Marine, NKSJ Holdings and MS&AD Insurance.
Japanese insurers were hitherto allowed to sell only voluntary motor insurance, which was penalizing them compared to other companies operating in the Chinese market.
As a reminder, the government has opened the market for compulsory insurance to foreign companies since May 2012.