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China Communications Insurance Co Set up in Hong Kong
China Communications Insurance Co., Ltd. made its debut recently in Hong Kong.
The company was funded by the Bank of Communications and has registered capital of HK$ 100 million.
It is the first Chinese-funded insurer in Hong Kong after the Asian financial crisis and marks a major step forward of the Bank of Communications toward diversified development in Hong Kong.
Before this, the bank has established the Communication Securities Co., Ltd. in 1999 and Bank of Communications Trust Co., Ltd. in 2000.
The insurance company will sell commercial and individual insurance products on favorable terms to clients in the region.
Source: Panorama
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