SHANGHAI & NEW YORK--(BUSINESS WIRE)--On Monday, July 11, 2011, Maurice R. Greenberg, Chairman and Chief Executive Officer of Starr International will join Fuliang Shi, Chairman of Dazhong Insurance as well as Shanghai Municipal Government Officials and CIRC officials at the Xijiao State Guest Hotel in Shanghai to celebrate Starr International’s investment in Dazhong Insurance and sign a memorandum of cooperation that will define Starr International’s role in supporting the growth of the Dazhong Insurance organization.
In so doing, Starr International Company, Inc. (Starr International) and Dazhong Insurance Company Limited of China (Dazhong Insurance) are marking a milestone in Starr International’s strategic equity investment in Dazhong Insurance, approved in May by the China Insurance Regulatory Commission (CIRC).
| WHO: | Maurice R. Greenberg, Chairman and CEO C.V. Starr and Co., Inc | ||
| Fuliang Shi, Chairman, Dazhong Insurance | |||
| Leaders, Shanghai Municipal Governments | |||
| Leaders, CIRC | |||
| WHAT: | Signing Ceremony between Dazhong Insurance and Starr International | ||
| WHEN: | 6:00 p.m., Monday, July 11, 2011 | ||
| WHERE: | Ballroom, Conference Center, House No. 8, Radisson Plaza Xing Guo Hotel Shanghai - 78 Xing Guo Road, Shanghai 200052, China |
Media Guests must contact Mr. Hui or Mr. Chen by Monday, July 11th 2011 to obtain entry.
Dazhong Insurance Company Limited of China is a domestic property and casualty insurance company in the People’s Republic of China. Dazhong Insurance was established in January 1995 in Shanghai and the majority of its current shareholders are state owned enterprises of the Shanghai Municipal Government such as Shanghai International Group, etc. Dazhong Insurance operates primarily in the Yangtze River Delta and has 8 branches, including Shanghai, Jiangsu, Zhejiang, Anhui, Suzhou, Ningbo, Qingdao and Fujian.
Starr International is a private insurance holding company with four insurance subsidiaries, a Lloyds syndicate and an investment portfolio. Starr International’s insurance companies, Starr Indemnity & Liability Company, Starr Insurance & Reinsurance Limited, Starr International Insurance (Asia) Limited, and Starr Surplus Lines Insurance Company, provide high-quality, customized property and casualty and accident & health insurance products, with significant access to the excess and surplus marketplace for certain lines of business. These entities also provide loss control, claims, administrative and reinsurance services to their policyholders. Starr International has also been approved by Lloyd’s as the owner of Lloyd’s CVS 1919 Syndicate.