Liberty Insurance, the wholly owned subsidiary of Liberty Mutual Group, has received an approval from China Insurance Regulatory Commission (CIRC), to establish a new branch in Guangdong province, China.
Pending final approval from Chinese regulator, Liberty will be the first foreign property and casualty firm to offer personal lines products for Guangdong's residents as well as various commercial lines products for small-to-medium enterprises.
Currently, Liberty has operations in Chongqing in Southwestern China, Beijing in Northern China and Zhejiang in Eastern China.
Liberty Mutual Group chairman and CEO Edmund Kelly said that the decision represents another important milestone for the operations in China and the international business strategy, overall.
Liberty Mutual Group has had a presence in China since 1996 when its subsidiary Liberty Mutual Insurance opened a representative office in Shanghai.
Pending final approval from Chinese regulator, Liberty will be the first foreign property and casualty firm to offer personal lines products for Guangdong's residents as well as various commercial lines products for small-to-medium enterprises.
Currently, Liberty has operations in Chongqing in Southwestern China, Beijing in Northern China and Zhejiang in Eastern China.
Liberty Mutual Group chairman and CEO Edmund Kelly said that the decision represents another important milestone for the operations in China and the international business strategy, overall.
Liberty Mutual Group has had a presence in China since 1996 when its subsidiary Liberty Mutual Insurance opened a representative office in Shanghai.
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