China’s Dinghe Property Insurance Cleared for Three New Branches

Dinghe Property Insurance Co. Ltd. has been approved to set up three new branches in Shanghai, Sichuan and Hainan, according to the China insurance Regulatory Commission.

Established in May 2008 and headquartered in southern China's city of Shenzhen, Dinghe Property Insurance was jointly developed by China Southern Power Grid, Guangdong Power Grid, Guangxi Power Grid, Yunnan Power Grid, Guizhou Power Grid, Hainan Power Grid and China Finance and Real Estate Co. Ltd.

The company provides property/casualty, liability, credit and guarantee insurance, short-term health insurance and accident injury insurance. It also writes reinsurance in those lines, and other businesses.

In the first 11 months of 2009, Dinghe Property Insurance recorded cumulative original premium income of 332 million yuan (US$48.63 million).

(By Rebecca Ng, Hong Kong news editor: Rebecca.Ng@ambest.com)