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Michael Cripps, partner at London-based law firm Clyde & Co. L.L.P., has said that Chinese insurers are becoming interested in Australian insurers due to strong regulation and stability in Australian market, reports The Sydney Morning Herald.
China's financial services firms may soon acquire stakes in Australian insurers as Asian businesses look to expand their footprints, said Mr. Cripps.
Mr. Cripps believes that Australia may soon become a hub for Chinese insurers seeking footholds in Western markets.