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International

Insurance regulator approves marine insurer in Ningbo, China

March 11, 2015 Reprints

The China Insurance Regulatory Commission has approved the establishment of a marine insurer in the port city of Ningbo in Zhejiang province, People.com.cn reported citing Beijing Daily.

The new insurer has been funded by PICC Property & Casualty Co. Ltd., Shanghai International Port Co. Ltd., Ningbo Port Group Co. Ltd. and Ningbo Development & Investment Group Co. Ltd.

The insurer will be set up with a registered capital of 1 billion Chinese yuan ($159.8 million).

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Insurance regulator approves marine insurer in Ningbo, China

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