Winterthur, the Insurance division of Credit Suisse, Tianan Insurance and the Shenzhen branch of Hong Kong’s Ming An Insurance Co. have reportedly been granted permission by Chinese regulatory authorities to offer foreign-currency property insurance and personal insurance policies, as well as reinsurance.
Dow Jones Newswires, which reported the approvals, indicated that the number of foreign insurers allowed to collect foreign currency premiums has reached 24 since the first permit was issued in August 2000. It also noted that airline companies are “among the major buyers of foreign currency-denominated insurance policies.”
Topics Legislation China
Was this article valuable?
Here are more articles you may enjoy.
Hurricane to Threaten Hawaii With Flooding Over Weekend 
Florida’s Commercial Clearinghouse Plan Hits a Snag, With OIR and Board Concerns 
Florida OIR Approves Four More HO Rate Cuts as Citizens Keeps Shrinking 
FEMA’s New Flood Maps Means More Homes Require Flood Insurance: Cotality 
