法巴天星财险拿下保险许可证

Core Insights - Beijing La Banque Postale Tianxing Property Insurance Co., Ltd. has received its insurance license, marking a significant development after a year of preparation [1][2] - The company is backed by foreign shareholders including the French insurance giant, La Banque Postale Group, and the Chinese shareholder, Sichuan Yinmi Technology Co., Ltd., a member of Xiaomi Group [3] Company Overview - The insurance license was issued by the Beijing Financial Regulatory Bureau, allowing the company to operate in various insurance sectors including motor vehicle insurance, property insurance, liability insurance, marine and cargo insurance, and short-term health and accident insurance [1][2] - The company is authorized to engage in reinsurance and other business activities permitted by national laws and regulations [1][2] Market Context - The establishment of La Banque Postale Tianxing Property Insurance comes amid a growing trend of foreign investment in China's insurance market, which has become the second largest in the world [3] - Data indicates that nearly half of the 40 largest insurance companies have entered the Chinese market, with foreign insurance company assets in China increasing by 117% since 2018 [3]