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Issue: 1195 Date: 7/18/2013
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Reinsurance Group gets preparatory license for China branch |
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Reinsurance Group of America Inc. has received a preparatory license to operate as a licensed life reinsurance branch in Shanghai, China.
The Chesterfield-based company said the Shanghai branch office will begin full operation in a year. RGA has maintained a presence in China since 2005, the company said.
Reinsurance Group of America (RGA) still needs to receive a full branch license from the China Insurance Regulatory Commission for the Shanghai branch.
"We believe China's robust economic growth, improved risk and capital management standards, and health and pension systems reform provide a stable, favorable environment for the growth of the life and health reinsurance industry," RGA's president and CEO Greig Woodring said in a statement.
The company is growing its international presence. In May, RGA opened an office in Istanbul, Turkey. RGA broke ground this year on its new headquarters building in Chesterfield, which is expected to be completed next year.
(St. Louis Post-Dispatch) |
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