Splash 247

China Cosco Shipping sets up captive insurance unit

China Cosco Shipping sets up captive insurance unit

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 65
            [name] => Finance and Insurance
            [slug] => finance-and-insurance
            [term_group] => 0
            [term_taxonomy_id] => 65
            [taxonomy] => category
            [description] => This is the Splash 24/7 archive of maritime finance and insurance news coming from all over the world. News are sorted by release date, from the latest to the oldest.

Get the updated list of the latest news about finance and insurance. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 1177
            [filter] => raw
            [cat_ID] => 65
            [category_count] => 1177
            [category_description] => This is the Splash 24/7 archive of maritime finance and insurance news coming from all over the world. News are sorted by release date, from the latest to the oldest.

Get the updated list of the latest news about finance and insurance. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Finance and Insurance
            [category_nicename] => finance-and-insurance
            [category_parent] => 54
        )

    [1] => WP_Term Object
        (
            [term_id] => 77
            [name] => Greater China
            [slug] => greater-china
            [term_group] => 0
            [term_taxonomy_id] => 77
            [taxonomy] => category
            [description] => Stay updated on what's going on in the Greater China by browsing the Greater China region news archive. Find the latest maritime and shipping news on Splash 24/7.

Get the updated list of the latest news about the Greater China region. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 55
            [count] => 5567
            [filter] => raw
            [cat_ID] => 77
            [category_count] => 5567
            [category_description] => Stay updated on what's going on in the Greater China by browsing the Greater China region news archive. Find the latest maritime and shipping news on Splash 24/7.

Get the updated list of the latest news about the Greater China region. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Greater China
            [category_nicename] => greater-china
            [category_parent] => 55
        )

)

China Cosco Shipping Corporation (Coscocs) has established a fully owned insurance unit, China Cosco Shipping Captive Insurance Company, in Shanghai today. The news follows hot on the heels of Cosco Shipping ditching its long-term insurance partner, London P&I.

Coscocs gained approval from China Insurance Regulatory Commission to set up the unit in December 2016.

The new insurance unit, which is the first shipping captive insurance company in China, will provide various insurance services for the affiliate companies of Coscocs.

Wan Min, general manager of Coscocs, said the establishment of the captive insurance company is an important milestone in the group’s strategy to expand financial services, and will create alternative income sources.

Share this article

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts