Guy Carpenter & Company, a member of Marsh & McLennan, has received approval from the China Insurance Regulatory Commission (CIRC) to open a new branch office in Shanghai, China. The new branch will be headed up by Phil Xue.
This is part of the firm’s efforts in building a strong local presence in China. Earlier in the year, Hong Guo and Vienna Cheung were appointed as deputy chief executive officer and chief operating officer respectively.
Based in Beijing, Hong Guo’s appointment as the general manager of Guy Carpenter Insurance Brokers (Beijing), the firm’s wholly owned subsidiary in mainland China, has recently been approved by CIRC.
“With its newly approved branch license in Shanghai, the firm will build a solid network by offering a wide range of reinsurance services and risk management expertise tailored to meet the unique needs and challenges of Chinese clients,” said a statement from the company.
