Chartis China expands with Nanjing branch
by Gill Montia
Story link: Chartis China expands with Nanjing branch
Chartis Insurance Company China has obtained the approval of the China Insurance Regulatory Commission to establish a branch in Jiangsu province, in the city of Nanjing.
The group says the approval represents a milestone in its expansion in China, allowing it to remain a leading foreign property & casualty insurer in the country.
Located on the east coast adjacent to Shanghai, Jiangsu province is one of China’s biggest provinces in terms of GDP, population, exports and foreign direct investment.
With nearly 80 million people and about 10% of national GDP, it is also one of the country’s largest provincial property & casualty insurance markets.
Commenting on the success, Chartis China’s president and chief executive officer, John Carey, says: “Jiangsu was our strategic choice for geographic expansion within China because of its economic development and great potential for P&C insurance.”
He adds: “We look forward to offering innovative products and quality services to customers in Jiangsu, and contributing to the sustainable growth of the insurance market in that province.”
Following the establishment of the new branch, Chartis China will have five branches: Shanghai, Guangdong, Shenzhen, Beijing and Jiangsu.