“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.
Viewpoint: Boom in Hyperscale Data Centers Puts Re/Insurers to the Test 
US House Passes Bill to Extend Federal Terrorism Backstop Through 2034 
Mamdani Delivers Rent Freeze in Milestone for New York City Tenants 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
