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INSURERS MAY INVEST IN BROKERAGES OUTSIDE OWN SECTOR
Article 146 of the Insurance Law provides that an insurance company may invest in insur-ance-related businesses. In an interpretation dated 26 November 2002, the Ministry of Fi-nance confirmed that an insurance brokerage company is an insurance-related business as re-ferred to in Article 146 Paragraph 4 of the Law. However, to avoid conflicts of interest, a non-life insurance company may only invest in a life in-surance brokerage, and a life insurance company may only invest in a non-life brokerage.