BEIJING, April 1 (Reuters) – China Reinsurance Group Corp said on Wednesday it will carefully consider its plan to set up a business entity in the United States, based on its global strategy and the implementation of Sino-U.S. phase one trade deal.
China’s largest reinsurance company, in a comment sent in response to a question from Reuters, did not elaborate on what exactly it was considering to reach a decision on the U.S. entity but said the trade deal was positive for its global footprint.
Based on the phase one deal inked in January, the United States will consider the application from Citic Group, China Re and China International Capital Corp (CICC) for the licensing of operations, as part of opening-up measures to Chinese financial institutions.
(Reporting by Cheng Leng and Ryan Woo; Editing by Muralikumar Anantharaman)
Related:
- Finance, Insurance Sector ‘Wins’ in U.S.-China Trade Deal Seem Familiar
- What the New U.S.-China Trade Agreement Says on Insurance
- China Opens Financial Sector to Increased Foreign Investment
- China to End Limits on Foreign Ownership in Financial Sector One Year Early
- China Plans to Further Relax Rules for Foreign Banks and Insurers
Was this article valuable?
Here are more articles you may enjoy.
Allstate Q3 Net Income Drops About 45% on Higher Catastrophe Losses 
FTC, States Allege Toast Software Burns Restaurants and Consumers 
Learjet May Have Broken Up Before Fatal Florida Crash, NTSB Says 
LA Port Strike Risk Pushed to Friday as Labor Talks Continue 
