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China shutters Travelers office.
- Article from:
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Business Insurance
- Article date:
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June 19, 2000
- Author:
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Copyright informationCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING -- China's insurance regulator has closed Travelers Insurance Co.'s representative office in Beijing for unspecified violations of the country's insurance regulations.
A spokeswoman for Travelers said the Beijing office had been established years ago and was dormant, adding that Travelers would "like to preserve our ability to do business there." She would not comment further.
According to local Chinese news reports, Travelers and several other insurers had violated administrative regulations. Other companies whose representative offices were recently closed include Ping An Insurance Co. Ltd. and Guijiang Insurance Agency Ltd., the reports said.
Over the ...
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