NIPPONKOA Insurance establishes first wholly-owned subsidiary in Shenzhen

Posted on: Tue, 23 Jun 2009 23:02:00 EDT


Symbols: NPPKF
BEIJING, Jun 23, 2009 (Xinhua via COMTEX) --
NPPKF | Quote | Chart | News | PowerRating -- ?NIPPONKOA Insurance Co., Ltd., the
fourth largest property insurance company in Japan, received approval
from China Insurance Regulatory Commission (CIRC) to establish its
first wholly-owned subsidiary in Shenzhen, a coastal city in south
China's Guangdong Province with registered capital of 200 million
yuan, according to CIRC.

The Japanese insurer will provide services including property
damage, liability, credit, short-term health and accident insurance
services, as well as reinsurance business for aforementioned
services.

Official with NIPPONKOA expressed that the establishment of the
Shenzhen subsidiary will provide quality services to Japanese
enterprises in this region.

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