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Cosco Shipping sets up Cosco Shipping Captive Insurance

China Cosco Shipping Corporation Limited (Cosco Shipping) has set up a new insurance unit named Cosco Shipping Captive Insurance Co in Shanghai.

Lee Hong Liang, Asia Correspondent

February 20, 2017

1 Min Read
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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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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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