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China's Insurance Broker to Enter Aerospace Sector
The Jiangtai Insurance Broker Co. , Ltd., China's first insurance brokerage company, will provide insurance-related services for the launching of the Fengyun 1-D meteorological satellite slated for 2002, sources said Friday.
Under an agreement signed between the company and the China Meteorological Administration Thursday, Jiangtai will act as insurance advisor and arrange insurance-related affairs for the national meteorological administration.
This is the first time that a Chinese insurance broker has entered the aerospace insurance field. It shows that China's aerospace insurance business has progressed to keep in line with the international market.
Li Huang, deputy director of the national meteorological administration, said that he hopes that they can get the most preferential price and best services from Jiangtai, which has so far acted as risk management consultant for 160 large and medium- size Chinese and foreign enterprises.
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