RSA PLANS FURTHER EXPANSION IN CHINA

UK headquartered RSA has set up a subsidiary in Shanghai and plans to open 11 more branches across China by 2011, it has said. It will target the country’s major cities including Beijing and Guangzhou, and has already applied to the China Insurance Regulatory Commission for approval for the branch in the capital. Last year the regulator gave its permission to insurer to convert its 10-year-old Shanghai branch into a subsidiary so that it can now carry out business non-life business across the country. So far this year RSA China has written gross premiums of Yuan135m an increase in 42% year-on-year, according to a report in the Shanghai Daily.