Insurance News
- Guangdong News
Date: 5-Jun-2007 Sources: (Shenzhen Daily)
SHENZHEN Modern City Real Estate Development Co. Ltd. is among the eight companies across the country which will jointly form the new Sunshine Insurance (Holdings) Group [WHEN?].
China Insurance Regulatory Commission has approved the application by Beijing-based Sunshine Property and Casualty Insurance Co. Ltd. to be restructured into a shareholding group with a registered capital of 1.35 billion yuan (US$176.47 million). It will become the country's eighth insurance company of its kind. Currently, the company has 25 provincial level branches with a workforce of nearly 4,000. As of May 17, its premium revenue for 2007 hit 1.4 billion yuan.
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