RBC ENTERS CHINESE MARKET

Canada-based RBC Insurance, part of Royal Bank of Canada, has opened a representative office for RBC Life Insurance in Beijing. RBC Insurance CEO Neil Skelding said that this was the first step for RBC Insurance entering the Chinese market, adding that it was “part of a larger commitment on our part to further strengthen our ties and cooperation with China governmental authorities and insurance companies”. The office will initially have a staff of two local RBC employees, with Tom Chen being chief representative. RBC Insurance received approval from the regulator in June to establish a representative office.