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China gives Lloyd’s go-ahead

Lloyd's has received the long-awaited approval for its new Chinese onshore reinsurance operation from regulators today (14 March).

The Lloyd's Reinsurance Company China Limited has been granted its formal licence document from the Chinese Insurance Regulatory Commission.

The Society announced it would be launching its Shanghai operation last April.

In today’s announcement Lloyd’s chairman Lord Levene said: “Lloyd’s reinsurance operation in China will enable us to expand our global footprint and support one of the fastest growing economies in the world.”

An opening ceremony, hosted by Lord Levene, will be held in Shanghai on 16 April.

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