Tianan Property Insurance Co., Ltd. recently acquired the land use right of a plot within Shanghai Expo Park after paying RMB1.2bn of land transfer fees. The plot is located in a world-class commercial community housing headquarters of renowned international companies and serving functions for high-end business affairs, conventions and exhibitions with supporting functions for consumption, leisure and entertainment and hotels.
In light of regulations and requirements on insurance capital’s investment in real estate, Tianan Property Insurance retained attorneys from Dacheng’s Shanghai office to advise on compliance issues. The Dacheng team was composed of Shanghai-based senior partner Wu Chenyao, associate Yu Benjun and paralegal Wang Shaojiong. The team conducted due diligence, offered attorneys’ opinion and advice on compliance and issued documents required by China Insurance Regulatory Commission on the real estate investment.
Despite a tight schedule, the team led by Wu delivered quality, efficient service, winning praise and recognition from the client.
Tianan Property Insurance, founded in December 1994 in Pudong, Shanghai, is the second joint-stock commercial insurance company and the fourth property insurance company in China. With RMB6.98bn in registered capital, it now owns 32 branches and more than 1,000 affiliated agencies. Tianan Property Insurance is recognized as a Top 500 Enterprise in China, the Most Influential Insurer, the Best Brand Image, a Top 10 Most Trust Property Insurance Company in China, a Top 10 Most Trustworthy Enterprise in China’s Insurance Industry, a Most Watched Insurance Brand, and a Famous Trademark in Shanghai.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
