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Chinese shipping firm creates captive, inks first policy


After creating the first shipping captive insurance company in China, Cosco Shipping Corporation has inked its first policy with Cosco Shipping Insurance Co. Ltd., Splash 24/7 reported. Cosco Shipping Corp. created the captive as it felt it would have a better understanding of the group’s insurance needs and enable the group to better manage the risks arising from shipping operations.

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