The Zurich Insurance Keen to Re-Enter China With a Joint Venture as Rules Relaxed for Foreign Financial Firms

by eggplant in BFI

Zurich Insurance, Switzerland’s largest insurer, is seeking a joint venture partner in China, as the country’s recent easing of financial sector rules, tempts it to return to the mainland’s life insurance market which it quit five years ago. “We have ambitions to grow in mainland China, which is a very big market with huge business opportunities,” Jack Howell, chief executive for Asia-Pacific at Zurich Insurance, told the South China Morning Post in an exclusive interview. The insurer previously had a 20% stake in New China Life Insurance, which it sold in 2013. It currently operates a wholly owned general insurance company, Zurich General Insurance Company (China), which offers property, corporate and other commercial risk insurance. “We have ambitions to grow in mainland China, which is a very big market with huge business opportunities,” Jack Howell, chief executive for Asia-Pacific at Zurich Insurance, told the South China Morning Post in an exclusive interview. In November 2017, China announced that it would relax the 50% cap on foreign ownership in life insurance joint ventures so that overseas investors could own a majority 51% stake in three years’ time, with the cap completely removed two years later.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
October 27, 2020
Published By shine.cn in Engineering / Manufacturing
October 21, 2020
Published By globenewswire.com in Hospitality / Tourism / Retail
October 15, 2020
Published By givaudan.com in Bilateral Relations
October 9, 2020
Published By chinadaily.com.cn in Engineering / Manufacturing
October 6, 2020
Published By globenewswire.com in Engineering / Manufacturing