Chubb consolidates its activities in China

China's insurance regulator has authorized Chubb to increase its shareholding in Huatai Insurance. The Swiss insurer, headquartered in Zurich, controls henceforth 30.9% of the capital of the Chinese joint venture against 26.2% previously. This percentage is likely to go up in the future, according to chubb's management.

In China, Huatai Insurance has a network of 600 branches with a portfolio of nearly 11 million customers. For its part, Chubb Limited, listed on the New York Stock Exchange, already operates in several Chinese regions namely Beijing, Shanghai, Jiangsu and Guangdong.

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