TITLE

Swiss Re Gains Chinese Licence

PUB. DATE
November 2003
SOURCE
Asia Monitor: China & North East Asia Monitor;Nov2003, Vol. 10 Issue 11, p6
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article reports on the grant of license to Swiss Reinsurance Co. by the China Insurance Regulatory Commission (CIRC) to open a reinsurance branch in Beijing, China. The Swiss reinsurer has appointed Eric Gao as general manager, while Winston Chou will act as head of life & health operations in China and Simon Lam will head the property & casualty business. The company views this move to be an important part of its overall Asia strategy. According to the company's own research, China's non-life insurance market will grow by an estimated 10% annually between 2003 and 2011 to U.S. $23 billion, while the life insurance market will rise 17% to U.S. $120 billion.
ACCESSION #
11208925

 

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