Regulator limits foreign players to one insurance joint venture

It is not clear whether ING and Metlife - which already have stakes in more than one Chinese insurer - will have to sell up

China’s insurance regulator has moved to assure domestic insurers that their market shares will be protected from foreign insurers looking to build a presence in the country. The China Insurance Regulatory Commission (CIRC) said recently that it will not allow foreign investors to have stakes in more than one domestic insurance company.