Liang Deng

Practice Areas

Ms. Liang Deng was graduated from Peking University in 2002 and joined JunHe the same year. Ms. Deng has been practicing in Beijing office of JunHe for 24 years.

Ms. Deng is the key partner of JunHe’s financial law practice group. She has extensive experience across a broad range of financial sectors, including insurance, trust, consumer finance, financial leasing, factoring, asset management and non-performing asset disposal.

Her primary clients include major domestic insurance groups such as China Life, NCI, China Re, Sunshine Insurance, and Taikang Group; foreign insurers such as Swiss Re, Munich Re, Mapfre Re, Generali, AIA, HSBC Life; as well as the industry-finance platforms of large enterprise groups, including Sinopec Financial Holdings, CNPC Enterprise Annuity, Datang Insurance, Dinghe P&C, and BMW Financial. She provides the insurance institutions with a full range of legal services, including daily corporate, corporate governance, compliance, insurance fund utilization, insurance claims litigation, IPO and bond issuance, human resource, intellectual property, personal information protection, data security, anti-money laundering, etc.

Over the past decade, she has also participated in numerous market-influential and representative insurance company establishment and M&A transactions, including the AIA branch-to-subsidiary conversion project, AIA's strategic investment in China Post Life Insurance, JD’s acquisition of Allianz Property & Casualty, ERGO's strategic investment in Taishan Property & Casualty, the establishment of Mapfre Reinsurance's Beijing branch, Swiss Re's investment in Waterdrop, and Swiss Re's investment in PICC's GDR offering.

In recent years, she has also participated in numerous major financial institution risk disposal projects in the Chinese market, involving not only insurance groups and insurance companies but also banks and consumer finance companies. These highly sensitive and complex projects demand more than just legal expertise. A lawyer must also have a deep grasp of regulatory logic, commercial realities, and the ability to integrate legal, regulatory, and business thinking. Only with this combination can one successfully navigate such high-stakes mandates. In these projects, she not only provided clients with constructive legal opinions and advice, but also offered strategic and tactical recommendations, helping them better navigate the overall project progression and achieve their project objectives.

In addition to legal practice, Ms. Deng also contributes to industry legislation. In recent years, Ms. Deng has participated in a number of legislative consultation projects, including proposals for amendments to the Insurance Protection Fund Management Measures, proposals for amendments to the Bankruptcy Law from the perspective of insurance industry risk management, and proposals for amendments to the Bankruptcy Law from the perspective of insurance asset management. She was invited by the China Banking and Insurance Regulatory Commission to participate in the legislative process of the Regulatory Measures for the Conduct of Major Shareholders of Banking and Insurance Institutions. In these projects, Ms. Deng made full use of her advantages as a lawyer, combined various difficulties and pain points found in her business with the update and optimization of laws and regulations, and provided in-depth and pertinent suggestions for regulators. Some of her views have also been adopted by regulators and reflected in relevant legislative documents, which is also Ms. Deng's contribution to the overall insurance industry.

Based on Ms. Deng's good legal skills, profound legal knowledge, and deep understanding of the market, industry and regulator, she has been recognized by many insurance institutions and has established long-term cooperative relationships with them. For example, Ms. Deng has served China Life Group and its various subsidiaries since 2005. Ms. Deng started to serve Swiss Re in 2007. In the following 15 years, Mr. Deng helped Swiss Re to handle almost all of Swiss Re's investments in China, including the acquisition of its P&C license, the investment to Alltrust P&C and NCI, the investment to Waterdrop and PICC’s GDR, ect. Another example is AIA. AIA began to try to solve its license problem through M&A in 2019, and then implemented the subsidiarization, and then invested in China Post Life Insurance in 2021. Ms. Deng is AIA’s most frequently cooperated lawyer in China. The recognition of these well-reputed clients also proves Deng's industry status and value.

Career

Ms. Deng is a member of the Beijing Lawyers Association and the All-China Bar Association.

Professional Memberships

Ms. Deng has been a member of the Legal Compliance Committee of the Insurance Asset Management Association of China (“IAMAC”) since its establishment, and was appointed as a member of the second and third Legal Compliance Committees in 2021 and 2024 respectively.

Since 2019, Ms. Deng has been employed as an external expert in the evaluation of the asset support program of China Insurance Asset Registration and Trading System Co., Ltd.

Publications

In 2019, Ms. Deng was entrusted by the legal compliance committee of IAMAC to participate in the compilation of “Compilation of Laws, Regulations, and Normative Documents on the Utilization of Insurance Funds (Revised Edition of 2018)”, and was responsible for the contents related to the investment of insurance funds in equity, financial products and overseas investment of insurance funds. Based on the overall continuation of the “Compilation of Laws, Regulations and Normative Documents on the Utilization of Insurance Funds (2019)”, Ms. Deng led her team to participate in the “Compilation of Laws, Regulations and Normative Documents on the Utilization of Insurance Funds (2022)” in 2022 and 2023, and was also responsible for the content related to the investment of insurance funds in equity, real estate, infrastructure and financial products.