CIIH PREPARES FOR FOREIGN CURRENCY BUSINESS

China Insurance International is actively preparing to launch policy business denominated in foreign currencies, according to company president Kenneth Ng Yu Lam. Mr Ng said that the company was currently subscribing for new Bank of China shares in Hong Kong through China Insurance Group Asset management, which is already entitled to invest overseas with foreign exchange capital. CIIH recently posted an operating loss of HK$454m and in January Mr Ng succeeded former CEO Miao Jianmin.