Business Services Industry
Updates; JLT obtains consent for China-based unit.(Jardine Lloyd Thompson Group PLC was approved to expand its operations in China)(American International Insurance Co. and American International Assurance Company Ltd. got approval to expand)(Zurich Financial Services earnings)
Business Insurance, May, 2006
Jardine Lloyd Thompson Group P.L.C. has been granted permission to begin operations in China, the company announced. London-based broker JLT said it had received approval from the China Insurance Regulatory Commission to start operating as an insurance and reinsurance broker throughout China via a majority-owned joint venture company.
JLT has entered into a joint venture with Chinese technology company Guangdong Ricsson Enterprises Co. Ltd. The joint venture company, to be named JLT Lixin Insurance Brokers Co. Ltd., will be headquartered in Guangdong and will focus primarily on large industrial risks, JLT said in a statement. Zurich sees first-quarter profit Zurich Financial Services Group posted profits of $785 million for the first quarter of 2006, a 1%...
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