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Mitsui Marine to start insurance business in China.

TOKYO, Oct. 17 Kyodo

Mitsui Marine & Fire Insurance Co. said Tuesday it aims to start business in China in the first half of 2001 by setting up a branch in either Shanghai or Guangzhou.

It will become the second Japanese nonlife insurance company to enter the Chinese market following Tokio Marine & Fire Insurance Co.

The company will offer services such as fire insurance to Japanese and foreign firms in China -- a business it has been seeking to start since setting up a representative office in Beijing in 1981.

Mitsui Marine & Fire has received approval from the Chinese government to establish a branch in China and now must ask for permission to start the insurance business, company officials said.
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Publication:Asian Economic News
Date:Oct 23, 2000
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