Pacific Life Re, a London-headquartered insurer, was granted permission by the China Insurance Regulatory Commission (
CIRC) to open a representative office in China, furthering its Asian expansion goals.
The new office in Shanghai will be led by Vivian Wei, who will act as the company’s main representative in the market.
According to the company, Wei will be instrumental in preparing Pacific Life Re for entry into China’s booming insurance market by spearheading market research efforts on the ground. She has more than 17 years of experience in life insurance, having held both domestic and regional roles.
Before joining Pacific Life Re, she was deputy head for accident & health at
Generali Asia, and senior actuarial manager at
Munich Re.
“After successfully establishing a branch office in Seoul, South Korea earlier last year, this move demonstrates our deepening commitment to the North Asia markets,” said Alex King, managing director of Pacific Life Re Asia. “With a representative office in Shanghai, we are embarking on the initial phase of learning about the needs of the market.”
Related stories:
Zhong An looking to raise US$1 billion in Hong Kong listing
China’s regulator turns to external talent to bolster solvency supervision capabilities
China Life enters US$950 million recapitalization deal with US-based fund
.jpg)
