Wan Min, general manager of Cosco Shipping, said the launch of the captive insurance unit is in line with the group’s ‘6+1’ industrial cluster, namely shipping, logistics, finance, equipment manufacturing, shipping services, real estate industry, plus ‘Internet Plus’ innovative business.
Wan added that Cosco Shipping Captive Insurance will be an important unit of the group for the expansion and development of financial services.
Cosco Shipping Captive Insurance will be the first shipping captive insurance company in China, dedicated to providing various insurance services for all the affiliates of Cosco Shipping.
The establishment of Cosco Shipping’s captive insurer was approved by the China Insurance Regulatory Commission in December 2016.
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