Shanghai Asia (UK) Limited achieved the first overseas insurance broker business license in China
On 17th, October, 2016, Shanghai Asia (UK) Limited, a wholly owned subsidiary of Shanghai Asian Insurance Brokers Co.,Ltd was officially approved UK Insurance Broker Business License by Finance Conduct Authority(FCA),which is the first shot fired for Chinese insurance broker’s entering into international insurance market.
The UK Insurance Broker License by FCA, the first business license from overseas insurance market in China is a milestone of SAIB’s international strategic development after its being Lloyd’s Registered Broker in 2015.From now on, SAIB UK subsidiary is able to provide Chinese, Chinese businesses and UK companies with professional insurance broker services.
As the leading international insurance center in the world, UK has strict requirements of admission and operations for insurance institutions. During SAIB’s application for business license, FCA evaluated and verified strictly SAIB’s development strategies, technical skills, internal compliance, human resource, finance, network management and other aspects in details. Following approximate one year’s preparation and accumulation, SAIB ultimately fulfilled all admission and regulations requirement s as local insurance broker in the UK to officially acquire the business license. That is the affirmation from financial regulatory authority in the UK for SAIB as well as the affirmation for Chinese insurance brokers’ professionalism, having showed technical expertise of Chinese insurance brokers is being geared to international standards.
Nowadays, new pattern of finance and trade between China and UK is quickly being formed. SAIB will accelerate its process of professional and international development in the UK by making use of Golden Ages of Sino-British relationship, to provide good insurance broker services for Chinese and British clients and to contribute to common prosperity of finance and trade between China and UK, to setting up Chinese insurance broker’s good industrial figure at the international stage and to building 21st Century global strategic partner relationship.