The China Insurance Regulatory Commission (CIRC) has licensed its first international loss adjusting company, GAB Robins, to provide a range of services to the Chinese insurance industry.
GAB said the license had been granted with immediate affect and it would be holding an official opening for GAB Robins China Co to coincide with the event. The Chinese subsidiary, based in Shanghai, has offices in Nanjing, Guangzhou, Shenzhen, Xiamen and Beijing.
GAB chairman of global operations, Jun Tsusaka, said: “We are thrilled at being granted the first loss adjusting licence in China, a market which offers growth opportunities second to none, and are absolutely committed to the long-term success of our China operations.
He added: “We view our role as not only extending support when dealing with insurance claims, but contributing to the development of the Chinese market through a wider interaction with local market participants.
The loss adjuster has had a presence in China since 1997 when its previous parent Société Générale de Surveillance set up a loss adjusting division within its subsidiary SGS-CSTC in Shanghai.
