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Chinese Antitrust Agency Imposes Fines for Coinsurance

Author::Zhan Hao, Song Ying浏览次数: Feb 25,2016

Authored by Dr. Zhan Hao (Partner  at AnJie Law Firm) and Song Ying (Partner at AnJie Law Firm) 

In December 2015, Chinese Antirust Agnecy, the Hubei Administration for Industry and Commerce (“Hubei AIC”), disclosed its punishment on 12 insurance companies for signing illegal coinsurance agreements. In this case, Chinese antitrust agency considered a coinsurance for Construction Project Personal Accident Insurance illegal. 12 insurance companies were fined CNY 4.69 million in total. It is not the first time that insurance companies and coinsurance targeted by China’s antitrust agencies. 

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