09.29.2009
29th September 2009. Shanghai, China ¨C RSA, one of the world's leading insurance groups, has announced today that its wholly owned subsidiary in China, Sun Alliance Insurance (China) Limited, has been granted approval to commence branch operations in Beijing by the China Insurance Regulatory Commission (CIRC).
This is the first branch for RSA in China following the launch of it Shanghai-based subsidiary in March 2008 and is the first part of its plan to create a network of branches in key cities across the country.
The Group also announces the appointment of Greg Otterson as CEO for China. Greg has over 27 years experience in the insurance industry, including 4 years in the Asia & Middle East market. Greg is currently Regional Director, Strategy & Distribution, for RSA Asia & Middle East region, and he will retain these regional responsibilities in addition to his new role, based in China. His appointment is subject to regulatory approval.
Paul Whittaker, CEO of Emerging Markets for RSA said, ¡°This is a major milestone for RSA and will provide the platform for the growth of our business in China. Beijing is strategically important for RSA, as one of the 10 largest cities in the world with a population of over 17 million people. It has a strong and dynamic insurance market and RSA is committed to provide innovative products and outstanding service to local and international customers in Beijing.¡±
Scott Pickering, CEO, RSA Asia & Middle East region added, ¡°The opening of Beijing Branch is fantastic news for our people, customers and partners in China. Coming at a time when the whole world is focusing on China celebrating the 60 year anniversary of the founding of the People¡¯s Republic of China, it is a clear sign of RSA¡¯s long term commitment to China. The appointment of Greg Otterson as CEO is good for our business in China as Greg, with his many years of experience in Asia, will provide the valuable insight and leadership as we build our business in this strategic market.¡±
- ENDS -
About RSA
With an almost 300 year heritage, RSA is one of the world¡¯s leading multinational quoted insurance groups. It has the capacity to write business in over 130 countries and with major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East and Latin America. Focusing on general insurance, it has around 21,000 employees and, in 2008, its net written premiums were ¡ê6.5bn. For more information on RSA, please visit the website: www.rsagroup.com
About RSA China
RSA¡¯s links with China go back to 1853 when it first operated in Shanghai. In 1992, RSA returned to China and opened a representative office in Beijing, becoming the first European insurer to set up an office in China.
In 1998, RSA became the first British insurance company to be granted an operating license in China and on 8th October 1998, RSA officially opened its branch in Shanghai. After 10 years of writing business as a branch, RSA launched its new subsidiary, Sun Alliance Insurance (China) Limited, in March 2008. As a wholly owned subsidiary of RSA, Sun Alliance Insurance (China) Limited is capitalized at RMB 500m, with a Head Office in Shanghai and transacts the full range of property and casualty insurance, as well as marine, construction & engineering and renewable energy insurance.
RSA¡¯s Beijing branch is located at Everbright World Centre, West District, and is led by Wang Xiaobing as General Manager, offering the full range of RSA China products for the Beijing market. For more information, please visit the website: www.rsagroup.com.cn
For more information regarding this press release, please contact:
Jacob Huang
Hill & Knowlton, Shanghai
Tel: 021 51097070-228
Fax: 021 54075700
Email: Jacob.huang&hillandknowlton.com
Richard Schofield
Sun Alliance Insurance (China)., Ltd.
Tel: 021 3855 4818
Fax: 021 3855 4828
Email:richard.schofield@cn.rsagroup.com