Hualiang Yu

Practice Areas

George Yu has over 20 years of legal experience in mainland China, Hong Kong and New York. He has extensive experience in foreign direct investment, M&A, capital markets, private equity and general corporate representations, and has handled cross-border mergers and acquisitions and capital market transactions for numerous Chinese and foreign clients.

Work Highlights

1. Allianz SE in establishing Allianz (China) Insurance Holding Co., Ltd., the first wholly foreign-owned insurance group company in China, and obtaining approval for business commencement from CBIRC; providing day-to-day legal advice for its China operations

2. Chubb Group in purchasing shares of Huatai Insurance Group from almost 20 different shareholders, making Huatai the first foreign-controlled insurance and financial services holding company, being the second largest acquisition in the insurance sector in China

3. Allianz (China) Insurance Holdings Co., Ltd. in applying for the establishment of Allianz Insurance Asset Management Co., Ltd, the first indirectly wholly foreign-owned insurance asset management company in China, and obtaining approvals for preparation establishment and business commencement

4. Allianz in acquiring 49% equity interest in Allianz China Life Insurance Co., Ltd, making it the first wholly foreign-owned life insurance company converted from a joint venture

5. AXA XL China in converting its direct insurance license into a reinsurance license, and provided day-to-day legal advice for its China operations

6. Shenzhen Bolin Asset Management Co., Ltd. and other domestic investors in acquiring all the equity interest held by HNA group in Shin Kong HNA-Life Insurance Company

7. Tsinghua Tong Fang Company in acquiring a 50% equity interest in AEGON-CNOOC Life Insurance Company held by China National Offshore Oil Investment & Holding Corporation, negotiating the joint venture with Aegon International B.V., and obtaining approval from CBIRC

8. ERGO Insurance Group and Shandong State-owned Assets Investment Holding Co., Ltd. in establishing a joint venture life insurance company in China

9. Assisted a European multinational insurance group to increase its stake in a joint venture life insurance company in China

10. Assisted in the post-investment management of a European multinational insurance group's property and casualty joint venture in China

11. ACE Group in handling the PRC legal matters for its global merger with Chubb

12. XL Capital Group in handling the PRC legal matters for its merger with Catlin Group and for the merger of XL Capital Group with AXA

13. Towers Watson in handling the PRC legal matters for its global merger with Willis

14. Citigroup in the sale of its 20% interest in China Guangfa Bank to China Life, being the second largest acquisition in the banking sector in China

15. Marsh & McLennan Companies, Inc. in acquiring HSBC Broker’s business in China; providing day-to-day legal services to Marsh (China) Insurance Brokers

16. Mercer Consulting Co. in acquiring a stake in a local insurance brokerage company; providing day-to-day legal advice to Mercer Insurance Brokerage Company

17. ERGO Fangsheng Insurance Brokerage Co., Ltd. in applying for the Insurance Brokerage Business Permit and preparing the whole set of application documents

18. A Singapore company engaged in health data analysis and management in acquiring insurance intermediaries in Shanghai and Beijing

19. Primary Group in acquiring an insurance brokerage company and its affiliates; providing day-to-day legal advice

20. Liberty Mutual Insurance Company in obtaining its China license, forming a P&C insurance company in China and its proposed sale of its equity interest of its wholly-owned P&C insurance company in China, Liberty Mutual Insurance Company, to a domestic private company

21. Lloyd’s of London in establishing its wholly-owned reinsurance company in Shanghai, converting its China reinsurance license into a direct insurance license

22. HSBC in establishing its life insurance operation and obtaining Stage II approval for its life insurance joint venture in China

23. John Hancock Financial Services Inc. in negotiating its life insurance joint venture in China and obtaining its China license

24. Reinsurance Group of America in obtaining its China license

25. Hannover Rück SE in obtaining its China reinsurance license, establishing its first branch in China, and establishing a comprehensive reinsurance operation

26. Citi Insurance of Citigroup in negotiating its life joint venture in Shanghai and obtaining its life insurance license in China

27. Fidelity Guaranty & Life in the acquisition of the company by Anbang Insurance Group

28. Apax Partners LLP, a major European private equity, in preparing and bidding for a minority stake of an existing life insurance company in China

29. Legal and General Group Plc in negotiations with China Construction Bank concerning forming a joint venture life insurance company in China through acquiring a major stake in an existing life insurer

30. Lockton Companies International Limited in obtaining an insurance brokerage license

31. Och-Ziff Capital Management Group in its investment in a major insurance agency in China

32. China Life Insurance Company Limited to complete an insurance fund debt investment project

33. Taikang Insurance Group Inc. in compliance review of insurance products

34. Genworth Financials Inc. in negotiating reinsurance for specific insurance products with PICC Property and Casualty Company Limited

35. Assisted a direct sales company of a major European insurance group in establishing new distribution channels in China

36. Kyobo Life in developing its business strategy in China and establishing its China representative office

37. United Health in applying for approvals and setting up representative offices in China

38. HansMerkur Health Insurance in establishing a representative office in China

39. Samsung Life in formulating its China strategy and its online insurance business models in China

Experience

George has focused his practice on cross-border financial and insurance M&A during the past 10 years, and has provided legal services to many large financial and insurance groups from Europe and the United States, including for example Chubb, Allianz, AXA, ERGO, AEGON, Swiss Re, SCOR Se, Munich Re and Citigroup. As a core member of the highly ranked JT&N Insurance Practice, George has extensive experience in P&C and life insurance and reinsurance transactions and regulatory matters, assisting clients with matters such as greenfield investment applications, joint ventures, mergers, acquisitions and restructuring, insurance funds investment, corporate governance, daily compliance.

George has represented clients in a range of high-profile transactions in the financial and insurance sectors, such as assisting Chubb in acquiring the shares of Huatai Insurance Group from almost 20 different shareholders (the second largest acquisition in the Chinese insurance sector, making Huatai the first foreign-controlled financial and insurance holding company in China), assisting Citigroup in selling its shares in China Guangfa Bank to China Life (the second largest acquisition in the Chinese banking sector), and assisting Allianz in establishing the first wholly foreign-owned insurance group company and the first wholly indirectly foreign-owned insurance asset management company in China.

George is ranked by Chambers and The Legal 500 for the insurance legal practice.

Languages Spoken

Mandarin, English