The China Insurance Regulatory Commission granted Liberty Insurance Company Limited (Liberty) approval to prepare for a branch in the Shandong Province.
Upon final approval from CIRC, Liberty will open a branch in Jinan, the capital of the Shandong Province—China’s fourth largest property and casualty insurance market. This will be the second foreign insurer in the province for this market, and Liberty’s fifth operation in China. The insurer has had a presence in China since it established an office in Shanghai in 1996.
Shandong’s 96 million people have a selection of personal lines products as well as commercial lines products for small-to-medium enterprises.