Chinese regulators have given the green light to three more foreign companies to set up operations in the country. Licenses have been approved for the U.S. Liberty Mutual, the U.K.’s Standard Life, and a company identified as a Japanese Property Insurer.
Standard Life, Europe’s largest mutual life insurance company, will establish a 50-50 partnership (the maximum stake allowed under Chinese law) with Tianjin TEDA Investment Holdings Co. to be called Heng-An Standard Life Insurance Co.
Details concerning Liberty’s plans and those of the Japanese insurer have not yet been released.
Was this article valuable?
Here are more articles you may enjoy.
Kroger Plans to Slash 37% of Corporate Jobs in Next Three Years 
Florida Supreme Court Approves Board Certification in Insurance Law 
AI’s Water Strain Includes Surging Demand From Electricity Use 
Industry Reacts to Senators’ Letter for Claims Data and Recent Reports 
