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China relaxes M&A rules for insurers

India Infoline News Service | Mumbai |

Current regulations restrict insurers from buying stakes in more than one peer that competes in the same products

Insurers in China, including Chinese-based foreign insurers, will be allowed to buy stake in more than one insurer that competes in the same product lines, according to new rules issued by China Insurance Regulatory Commission (CIRC).
The rules, which will allow stronger firms to invest in weaker players, were published on CIRC's website and dated last Friday.
Current regulations restrict insurers from buying stakes in more than one peer that competes in the same products.
 

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