“Lloyd’s China has been granted a license by the China Insurance Regulatory Commission (CIRC) to write direct insurance in addition to their existing reinsurance license,” said a bulletin on its web site (www.lloyds.com).
Lloyd’s Chairman Lord Levene announced the licensing in the UK Pavilion at the World Expo in Shanghai. “This is a very significant development for both Lloyd’s and the Chinese insurance market, ” he stated.
“We are most grateful to the CIRC for their help and to the Shanghai Municipal Government. This will be a further important building block in the development of Shanghai as a major international financial and maritime center.”
Source: Lloyd’s of London
Topics Excess Surplus China Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
Hacking Group ‘ShinyHunters’ Claims Theft of Data From Users of Pornhub 
North Carolina Sting Operation Alleges Roofer Damaged Shingles to File Claim 
After Years of Pushing Rate Hikes, Florida’s Citizens Now Wants HO Rate Decrease 
Abbott Presses Congress for Legal Shield Over Preemie Baby Formula Lawsuits 
