Member Article

Per China’s WTO commitments, the China Insurance Regulatory Commission issued the Announcement Regarding Permitting Foreign Insurance Brokerage Companies to Establish Wholly Foreign-owned Insurance Brokerage Companies on 11 December 2006. Effective the same day, foreign insurance brokerage companies are allowed to establish fully foreignowned insurance brokerage subsidiaries dealing with brokerage for insurance of large scale commercial risks and brokerage for reinsurance and brokerage for international marine, aviation, and transport insurance and reinsurance. This is the last of China’s scheduled WTO commitments on insurance services.