CHINA INSURANCE LOOKS AT MAINLAND REINSURANCE OPTIONS

Hong Kong-headquartered China Insurance (Holdings) Co has said that it is planning to enter the reinsurance sector on the Chinese mainland through its wholly owned subsidiary China International Re, according to Feng Xiaozeng, board chairman of China Insurance (Holdings). Speaking in Shanghai, Mr Feng said that the company would first establish a reinsurance branch in Shanghai. He added that the company planned to increase its investment in Shanghai to build a nationwide back-up centre at Shanghai’s Zhangjiang High-Tech Park, as well as accelerating the construction of the China Insurance and Taiping building.