China.com.cn released a report on SAIB UK subsidiary’s achievement of insurance broker business license in the UK
China.com.cn released a report on SAIB UK subsidiary’s achievement of insurance broker business license in the UK on 17th, October, 2016.
Please refer to the following detailed report:
Shanghai Asia (UK) Limited achieved the first overseas insurance broker business license in China
On 17th, October, 2016, Finance Conduct Authority(FCA) officially authorized Shanghai Asia (UK) Limited with License in UK Insurance Broker Business.
Shanghai Asia (UK) Limited is a wholly owned subsidiary of Shanghai Asian Insurance Brokers Co.,Ltd. Following SAIB’s being Lloyd’s Registered Broker in 2015, the authorization of SAIB UK subsidiary is another milestone for its internationalization. Henceforward, Shanghai Asia (UK) Limited is able to provide professional insurance broker services to Chinese people and businesses, as well as local companies in the UK.
Ms. Pu Huiqiong, the Executive Director of Shanghai Asia (UK) Limited expressed during the interview by reporter “The company will be localized further to actively promote businesses in the UK to achieve the breakthrough in the reinsurance field to develop business and to strengthen competiveness in accordance with requirements of FCA and business development need.”
It is said that during SAIB’s application for business license, FCA evaluated and verified strictly on 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 the admission and regulation requirements and officially acquired FCA license to be a local insurance broker in the UK. This is the affirmation from UK regulatory authorization to Chinese insurance broker’s techniques, showing the fact that the comprehensive strength is being geared to international standards.
SAIB is a nationwide insurance broker approved by CIRC, with its headquarter in Shanghai and branches in main cities.
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