Liberty Mutual Insurance Company said its wholly owned Chinese subsidiary has been granted approval to commence branch operations in Beijing by the China Insurance Regulatory Commission (CIRC).
Liberty Insurance said it received CIRC approval in July to open a Beijing branch, the first branch established by the company in China. The office will offer personal lines products and a wide range of commercial lines products that focus on the needs of small-to-medium enterprises.
"Liberty Mutual is the first U.S. carrier operating in China to receive CIRC approval to operate a Beijing branch," said Liberty Mutual Group Chairman, President and Chief Executive Officer Edmund F. Kelly in a statement.
"We thank CIRC for approving the Beijing branch. This branch office is an important milestone, allowing Liberty Mutual to expand its presence within China," Mr. Kelly added.
The Boston-based company said it has had a presence in China since 1996 when it opened a representative office in Shanghai, opening its first insurance office in Chongqing in 2004.
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