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Please make sure you view the key information alongside your search results. This section details information that must be considered before accepting a risk in the chosen territory.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice.

China** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Pre-placement considerations

Lloyd's authorisation


Lloyd's underwriters are permitted to write non-life direct business in China through Lloyd's Insurance Company (China) Ltd (LICCL).

Syndicates wishing to participate in the Lloyd's China platform must be approved by Lloyd's. Lloyd's underwriters who do not participate in LICCL are not permitted to write direct business in China with the following exceptions:

  • Under China’s World Trade Organisation (WTO) commitments, non-admitted insurers may write international marine, aviation and transport insurance (MAT). There is no requirement for a Chinese intermediary for MAT business under PRC laws and regulations. Please note that the precise definition of MAT business has not been provided.
  • Risks that do not fall under the definition of a Chinese risk as set out in Article 7 of the People's Republic of China (PRC) Insurance Law - i.e. where the insured or applicant is not a legal Chinese entity or the risk to be covered is not located in China (please refine your search to include 'Definition of risk location' for full Article text).


Lloyd's underwriters are permitted to write reinsurance business from China through Lloyd’s Insurance Company (China) Ltd (LICCL) or on a cross-border basis. There may be differences between on and off shore reinsurance regarding solvency rules (see the 'More Detail' section below). For more information about placing business through LICCL, please contact LITA.

With the exception of aviation, aerospace, nuclear, oil and credit reinsurance contracts, the amount of proportional business ceded to any one reinsurer in respect of any one risk shall not exceed 80% of the sum insured or liability limit of the total shares written by the ceding company under the direct insurance policy. The amount of each facultative cession to an affiliated company of the policyholder should not exceed 20% of the sum insured or limit of liability of the direct insurance policy.

Notice on reinforcing administration of reinsurance registration (CIRC registration IDs)

With effect from 1 January 2016, all onshore and offshore reinsurers and reinsurance brokers which conduct reinsurance businesses with a Chinese ceding company are required to be registered with the China Insurance Regulatory Commission (CIRC).  Please see below for more information.

Last updated: 18 Jun 2018

Definition of risk location

Article 7 of the People's Republic of China (PRC) Insurance Law provides, "when a legal person or other entities inside China need to acquire insurance coverage inside China, such legal person or entities should apply to an insurance company (formed) inside China".

This only applies to a situation where: - 

(i) The object to be covered is located inside China; and
(ii) The insured or the applicant is a Chinese legal entity or other organisation inside China.

Under World Trade Organization (WTO) obligations, international marine, aviation and transport (MAT) business is exempt from Article 7.

Please note that the Article 7 does not extend to reinsurance business.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 03 Jan 2018

Compulsory classes

Motor Third Party Liability Insurance and Agriculture Insurance

Last updated: 06 Dec 2017

Financial considerations

Exchange controls

From the 1st June 2006, commercial insurers formed in China are able to buy foreign currency direct from the approved banks with the necessary evidence of reinsurance arrangements, subject to filing requirements applicable to the local insurers. Following the promotion by the People’s Bank of China (“PBOC” as the central bank) of Renminbi as regional and international trading / settlement currency, cross border CNY is allowed subject to relevant filing requirements.
Last updated: 06 Dec 2017

Routes into Lloyd's


Lloyd's requirements for a coverholder carrying on Chinese business on behalf of a Lloyd's managing agent.

Last updated: 06 Dec 2017

Binding authority held by a coverholder based outside of China
Last updated: 06 Dec 2017

click for more detail More detail

Intermediary regulation

This information is secured Secure item
Last updated: 03 Jan 2018

Insurance documentation

Language of contract

Any language may be used subject to the agreement of the contracting parties. However, please note that insurance contracts filed with the Chinese Regulators must be in Chinese.

A non-Chinese version of any filed policy will be superseded by the Chinese version in the event of a dispute.
Last updated: 06 Dec 2017

Choice of law

To meet contract certainty requirements, the contract should contain a choice of law clause.  Where the contracting parties are all China registered entities, the law governing the (re)insurance contract should be the People's Republic of China (PRC) law. Where one party to the contract is a foreign entity, or where there are foreign elements in the contract, a different law may be agreed by the contracting parties.
Last updated: 06 Dec 2017


The contract should include a clause recording the jurisdiction that will apply to the contract.  Where both parties are legally registered Chinese entities, the jurisdiction should be the People's Republic of China (PRC).  However, where one party to the contract is a foreign entity, the parties to the contract are free to choose a jurisdiction.  However, if the governing law is Chinese law, the jurisdiction must be one where Chinese law is well understood.
Last updated: 06 Dec 2017

Service of suit

A nominee for service of suit can be made at the discretion of the underwriter.
Last updated: 06 Dec 2017


Insurance law and regulation

Anti-Money Laundering (AML) guidance for the People's Republic of China

The following provides detailed guidance in relation to the existing Chinese legal and regulatory framework, clarifying its impact on the China platform and to provide guidance on best practice for the Lloyd’s Insurance Company China Limited (LICCL) and Managing Agents who have involvement in China.
Last updated: 03 Jan 2018

Last updated: 03 Jan 2018

Lloyd's representation and other contact details

Lloyd's representative

Chief Executive Officer
Mr Eric Gao
Lloyd's Insurance Company (China) Ltd
30th Floor
Shanghai Tower
No.501 Middle Yincheng Road
Shanghai 200120

Tel: (86) 21 6162 8200
Fax: (86) 21 6162 8250


General Manager
Mr Songlin Chen
Lloyd's Insurance Company (China) Ltd Beijing Branch
Room 4901
China World Tower B
No.1 Jian Guo Men Wai Ave.
Beijing 100004

Tel: (86) 10 8526 4801


About Lloyd's in China

Last updated: 06 Dec 2017