Insurance
Insurance practice is a highly specialized area. It involves a wide range of business systems, all of which fall under the government’s stringent and meticulous regulation. Over the years, JunHe’s insurance team has provided a full range of multilevel legal services for the insurance industry and various clients, covering various fields of business as well as providing strong support for clients in the entire chain of operations. Our major clients include domestic and international well-known insurance companies such as China Life, China Reinsurance, Ping An, NCI, Swiss Reinsurance, AIA, PICC, CPIC, AIG, ACE Group, Sompo Japan Insurance, Tokio Marine, XL Group, Swiss Reinsurance and Munich Re Group.
Our Team
Our insurance team consists of partners and associates with extensive practical experience, and has been devoted to providing insurance legal services for many years. These associates have all graduated from well known domestic and overseas law schools, and many have worked for leading insurance companies and other insurance-related financial institutions. Those who deal with the settlement of insurance claims as well as defense, recovery and other litigation practices especially, have more hands-on experience accumulated over many years. Our team members are not only experts in law, but also have a profound understanding of the insurance industry.
Core Areas of Practice
Assisted in the establishment and/or acquisition & merger of an insurance company in accordance with the special access system applicable to thatparticular company;
Assisted an insurance company in its capitalized operation, restructuring and listing;
Provided insurance companies and other insurance institutions with legal services in respect to various businesses and operations. In particular JunHe has provided legal analysis regarding innovative products and businesses, such as an analysis of the Internet insurance industry, cooperated with insurance intermediaries and managed sales channels;
Provided legal services with respect to multi-area and multi-type use and investment of insurance funds at home and abroad in accordance with the special rules and provisions for the investment of insurance funds;
Assisted insurance companies with general compliance according to the particular characteristics of compliance in the insurance industry;
Designed insurance products and clauses;
Litigated for the settlement of insurance claims;
Disputes over reinsurance;
Insurance defense;
Assisted in the exercise of subrogation rights for insurance companies.
Unparalleled Industrial Experience
As one of the oldest law firms engaged in insurance practice, JunHe has represented many classic cases including the‘Acquisition of Equity Interest of New China Life Insurance by International Finance Corporation, Zurich Insurance Company, Meiji Life Insurance Company and Netherlands Development Finance Company’in the early stages. For years JunHe’s insurance team has closely followed the development of the insurance industry, and maintained a good working relationship and communication with the regulatory institutions in the industry including the insurance industry participants, the China Insurance Regulatory Commission and other insurance industry associations, and has thus gained incomparable insight into the industry.
Stronger through Resource Sharing
Insurance law services almost always involve different categories of commercial laws and regulations, from market access and the establishment of a company, to business operations, funds utilization and the settlement of insurance claims, with each stage featuring high specialization and a large volume of business. Under JunHe’s ‘corporatization’ management system, our insurance team shares experience and resources with all other practice groups, including Mergers and Acquisitions, Real Estate and Construction, Infrastructure and Project Financing, Banking and Finance, Securities and Capital Markets, Litigation, Intellectual Property and Labor and Employment, so that our clients receive service from experts in the relevant fields within the shortest period of time. This saves valuable time and expense.
Recent Representative Cases
Advised Morgan Stanley on the subscription for capital increase in Zhong An Online Property Insurance Corporation. Zhong Anis China’s first online insurance company,and the project attracted the market’s attention because of the special nature of the insurance business and its high net worth. As the Chinese legal counsel for Morgan Stanley, JunHe offered opinions regarding Chinese law,the qualifications of the investors, the source of funds, the transaction structure, prepared application documents and participated in negotiations and discussions with the target company and other investors.
Advised PICC Investment Holding Co., Ltd. on the establishment of the ‘PICC Invest Holding – Great Wall Guoxing Financial Leasing Project Asset Support Plan’. Compared to other insurance asset management products, project asset support plans have been rather limited in light of issue quantity and issue scale due to its multiple risk points and its sophisticated structure. JunHe’s team provided strong support to the client in respect to the transaction structure design and the transaction clause drafting, based on its extensive and solid legal knowledge and hands-on experience. The project won second prize in the “First Contest for Design of Innovative Insurance Asset Management Products” organized by the Insurance Asset Management Association of China.
