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SHANGHAI, ChinaThe China Insurance Regulatory Commission has granted London-based Royal & SunAlliance Insurance Group P.L.C. permission to establish a nonlife subsidiary in China.
RSA already has a branch in Shangahi, but will now be able to transform its Chinese business into a subsidiary, the London-based insurer said in a statement.
In addition, RSA said that Mike Jakeman has been appointed chief executive officer of RSA's Greater China operations.
Mr. Jakeman has been at RSA for more than 30 years, and most recently was at the company's Canadian operation, the statement said.