NU Online News Service, Jan. 18, 11:35 a.m. EST
Kansas City, Mo.-based insurance broker Lockton said it has received approval from the China Insurance Regulatory Commission (CIRC) to open a new branch office in China, based in Beijing.
The new office will be run by Alex Jiang, who will be joined by a number of associates this month.
Mr. Jiang joined Lockton last year and has overseen Lockton's wholly-owned foreign enterprise license application process for the Beijing office. He was previously assistant general manager and head of financial risks practice and corporate business practice in Northern China for HSBC Insurance Brokers. Mr. Jiang will report to Gerry Callaghan, who is chief executive officer and president for greater China.
Lockton said the Beijing branch office will operate as a full-service broker, offering a wide range of specialist insurance and reinsurance services. The firm's other China office is located in Shanghai and opened in 2008.
Julian James, CEO of Lockton Companies LLP, said in a statement that the opening of a second branch office in China “is a significant step in the ongoing development of the insurance and risk management solutions we provide to Chinese clients and companies.”
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