Chubb subsidiary, Federal, opens Shanghai branch

SHANGHAI - Chubb Corporation subsidiary, Federal Insurance, has opened awholly owned branch in Shanghai, it announced yesterday. the operation willwrite non-life business, both insurance and reinsurance, for foreigninvested enterprises in the city. Chubb chairman and chief executive DeanO'Hare said: "There is a growing recognition of the critical role of thesoft infrastructure in promoting China's economic growth and development. Weare committed to helping the Chinese economy grow, especially by helping toprovide the soft infrastructure (the service sector that supports commerce)that will enable businesses to succeed by preventing and protecting againstlosses that could destroy their economic viability."