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US Insurance Company Invests Heavily in Western China
Apart from insurance services, the Liberty Mutual Group, one of the leading insurance companies in the United States, plans to invest more in the areas of infrastructure facilities, energy resources and environmental protection in Western China.
A US$2.2 billion natural gas project, partly funded by the group, is under construction in Chongqing Municipality, Southwest China.
An official with the group said that the western region will be his company's top choice while developing businesses in China.
The Liberty Mutual Group opened its first agent office in Chongqing in 1998, and it is the first foreign insurance company which opens an agency in this southwest China municipality.
The group has opened two other agencies in Beijing and Shanghai.
The Boston-based company is an international financial service company which develops diversified businesses. The group has a total capital of 54.3 billion US dollars, and recorded a sales income of 13.6 billion US dollars in 1999.
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