Foreign-funded insurance companies refer to Sino-foreign joint venture insurance companies, wholly foreign-owned insurance companies and branches of foreign insurance companies established with the approval of China Insurance Regulatory Authority.
In the China market, the rights and interests of foreign-funded insurance companies and Chinese-funded insurance companies are equal, and both have to be audited by the CIRC. Usually, the claims of foreign companies are global, which is quite different from those of China companies. In addition, the financial strength of foreign enterprises is much stronger than that of China enterprises.
It is worth noting that some foreign insurance companies are not doing well in China, usually because they are not acclimatized, while the China market is measured by the systems and standards of European and American countries. After frustration, their business endurance is not long enough, which is an important factor that eventually leads to the slippery railway.
Generally speaking, foreign insurance companies are trustworthy.