BOC Insurance, Insurance Underwriter of BOC Aviation

Mon. March 24, 2008; Posted: 05:53 AM

BEIJING, Mar 24, 2008 (SinoCast via COMTEX) -- BACHF | news | PowerRating | PR Charts -- Bank of China Insurance Co., Ltd., an insurance arm under Bank of China (BOC, SEHK: 3988 and SHSE: 601988), teamed up with some international insurers to act as the fleet insurance underwriters for BOC Aviation Pte. Ltd., an aircraft leasing arm under BOC, valued at over USD 3 billion.

The insurance covers all risks insurance, war risk insurance, and accident insurance about the third party liabilities, the aircrafts' hulls and spare parts. BOC Insurance will participate in the insurance in 2008, with a renewal period of two years.

It is the first time that BOC Insurance set foot in the international civil aviation insurance sector. The cooperation between BOC's two arms is an effort to fully leverage the resources of the parent.

Headquartered in Beijing, BOC Insurance is a national property insurer. BOC Aviation is based in Singapore and it owns a fleet of 79 aircrafts to serve the airlines all over the world.

From stocknews.com.cn, Page 1, Friday, March 21, 2008 info@SinoCast.Com

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