A bulletin from Lockton notes that the UK Ambassador to China Sebastian Wood “lauded the work of international insurance brokers helping China to further develop its insurance markets. he was speaking at the official office opening ceremony of Lockton,’s new office branch in Beijing.
The Beijing office hwas opened following regulatory approval from the China Insurance Regulatory Commission (CIRC). Lockton first received authorization to establish a wholly owned subsidiary in China in 2008.
Wood commented: “I am particularly pleased that Lockton is developing its business in China. As China seeks to grow and deepen its insurance markets insurance brokers have an important role as “multipliers” reaching out to new corporate and personal clients that insurance companies might otherwise struggle to reach. So as well as helping develop Lockton’s business in China the company will also play a supporting role in helping China further develop its insurance markets.”
Lockton Companies LLP Julian James added: “Today, in the wake of the Japan earthquake and tsunami, the insurance market has never been so relevant. We oil the wheels of world commerce when times are good. Then when they threaten to fall off, we help to put the wheels back on when times are bad. This office opening is significant as it brings our expertise closer to our clients.”
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