RSA announced recently, Royal and Sun Alliance Insurance (China) Co., Ltd, its wholly owned subsidiary, was officially established in Shanghai.
The newly established company with registered capital of RMB500m plans to expand its business to many Chinese cities including Beijing and Guangzhou this year.
The company is introducing some professional insurance businesses and innovation products into China, such as insurances of renewable energy sources and construction works.
Relevant responsible persons from the company addressed Royal and Sun Alliance Insurance intends to set up 11 branches in Chinese major provinces and cities prior to the end of 2011.
RSA has businesses in more than 130 countries across the globe and in 2007, its net premium stood at
￡5.8b. As early as 1853, it had carried out insurance business in Shanghai and it is also one of foreign-invested enterprises entering into China’s insurance markets earliest. |
