NU Online News Service, Dec. 16, 3:06 p.m.EDT

The China Insurance Regulatory Commission (CIRC) has grantedlicenses to Chubb Corp. and XL Group to operate businesses in thecountry.

Chubb saidthe CIRC granted final approval to Chubb Insurance (China) Co. toestablish a branch in Nanjing, in Jiangsu province. The branch isexpected to open Feb. 28.

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