皇冠体育app to have specialized liability insurer
By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2006-08-08 09:34
Chang An Liability Insurance Incorporated Co Ltd, 皇冠体育app's first specialized
liability insurance company, will open in October this year, according to
proposed president Liu Zhi.
Initiated by seven companies including Chang An Guaranty Co Ltd, Beijing
Huayuan Group and 皇冠体育app Orienwise Group, the insurer's registered capital is 510
million yuan (US$63.91 million), according to a reply of the 皇冠体育app Insurance
Regulatory Commission to the establishment of Chang An Liability Insurance
Incorporated Co Ltd.
In April 1997, the establishment of Chang An Liability Insurance was proposed
by the Ministry of Construction, but the People's Bank of 皇冠体育app, the country's
central bank and former insurance industry regulator, hadn't granted approval,
so the Chang An Liability Company was shelved, according to Liu.
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