Chubb Insurance (China) Co. Ltd., a Chubb Corp. subsidiary and property/casualty insurer, has received approval from the China Insurance Regulatory Commission (CIRC) to open a branch in Nanjing, Jiangsu Province.
The company is awaiting additional approval from the CIRC and other governmental authorities, but expects the new branch to open in December 2010. In September 2000, Chubb opened its first China branch in Shanghai, which became a wholly owned subsidiary by February 2008.
Harold Morrison, executive VP of Chubb’s worldwide field operations, said he expects the Jiangsu branch to become an important addition to the company’s global network.
“This new investment symbolizes Chubb's long-standing commitment to China,” Morrison said.
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