China’s First Mutual Insurer Opens
(Beijing) — China’s first mutual insurer has opened in Beijing, representing a step toward the country’s goal of diversifying its insurance industry.
Zhonghui Property Mutual Insurance, with initial working capital of 1 billion yuan ($146 million) from 12 founding members, will offer credit insurance to small and midsize enterprises plus short-term health and personal accident insurance, according to a statement published on the website of the China Insurance Regulatory Commission (CIRC).
- 1China May Introduce First Rule on Overseas Investment by Year-End
- 2Grisly Murder Sheds Light on Gangs Who Kill Workers for Compensation
- 3Henan Considers Credit Default Swaps as Debts Mount
- 4Can China’s ‘Leather Capital’ Repay Its Environmental Debts?
- 5China Group in Front for Major New York Subway Contract