Lloyd’s opened a branch office in Beijing to access new business and forge closer links with business partners in China’s capital.
Lloyd’s also appointed Songlin Chen, as general manager of the Beijing branch. In this role he will be responsible for Lloyd’s business development activities in Beijing and maintaining and enhancing local trading rights.
Chen joined Lloyd’s two years ago as Beijing chief representative and has over 20 years’ experience in international and domestic reinsurance underwriting and management with a major Chinese carrier.
Under the new branch license, Lloyd’s will be able to provide non-life insurance and reinsurance service within the Beijing Municipal Administrative region. The new Beijing office will also enable Lloyd’s underwriters to strengthen relationships and client service with brokers, and policyholders in the region.
Lloyd’s Chairman John Nelson said:
“Our new Beijing branch will allow Lloyd’s China to do more business in Beijing itself, providing protection to companies and cedants in the region. It will also give us better access to brokers, clients and the new talent in the city.
“Having a presence on the ground will also help us develop our existing constructive relationship with the Chinese authorities with whom we had extremely close collaboration in establishing this license. We would like to thank them for this cooperation.”
The Lloyd’s China platform is growing in strength and size, reflecting Lloyd’s commitment to the region and role as a global property casualty insurer and reinsurer, Lloyd’s said in a statement. The number of syndicates on the Lloyd’s China platform has grown from four in 2007 to 22 today.
Source: Lloyd’s