Chinese shipping firm creates captive, inks first policy

Posted On: Jun. 29, 2017 4:00 AM CST

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.