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Zurich Insurance seeks merger and acquisition opportunities in China

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Stuart A. Spencer, chief executive of Zurich Insurance Co. Ltd.'s general insurance business in the Asia-Pacific, said the company is seeking merger and acquisition opportunities in China, reports Ecns citing China Daily.

Last April, the China Insurance Regulatory Commission approved the Swiss company's plan to transform its Beijing branch into a wholly owned subsidiary, making it easier to expand across the country. Zurich General Insurance Co. (China) Ltd. recorded a 16.5% increase in premium volume to 496 million Chinese yuan ($82 million) in 2013.

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