Global insurance broker Jardine Lloyd Thompson (JLT) has had its licence to trade as a foreign broker in China extended to cover all lines of insurance brokerage.
The scope of business for the new licence is the same as that permitted for a domestic insurance brokerage company in China, and JLT is free to provide its comprehensive suite of risk advisory, employee benefits and insurance broking services to the full spectrum of Chinese businesses.
The approval from the China Banking Insurance Regulatory Commission (CBIRC) follows a recent move by the Chinese government to further open the Chinese market to foreign operators.
Mr Dominic Samengo-Turner, JLT Asia’s chief executive, said, ”The Chinese Government’s One Belt One Road initiative is generating unprecedented opportunities for JLT, and we are very excited by the opportunities that this licencing extension presents.
“Our speciality business in China has been growing from strength to strength – particularly in the areas of Construction and Energy – and this success is based firmly on strong collaboration between JLT China and JLT Specialty’s regional and global experts.”