Mike Jakeman named as chief executive of R&SA Greater China
Royal & SunAlliance (R&SA) has been granted approval from the China Insurance Regulatory Commission (CIRC), to establish a subsidiary to transact non-life insurance in China.
The subsidiary will be wholly owned by R&SA and the conversion process, which is already underway, is expected to complete in autumn 2007.
Mike Jakeman has been named as chief executive of R&SA Greater China. Jakeman has over 30 years' experience at R&SA, most recently he led the successful turnaround and growth of the group’s Canadian commercial operation.
Paul Whittaker, chief executive of emerging markets for R&SA, said: “The approvals from the CIRC will enable us to significantly expand our Chinese business from its current base in Shanghai, and we plan to set up a network of offices and branches across the country, starting with Beijing and Guangzhou.
“The approvals from the CIRC will enable us to significantly expand our Chinese business from its current base in Shanghai
Paul Whittaker, chief executive of emerging markets for R&SA
“The Chinese insurance market is developing rapidly and expanding nationally will give us the platform to deliver a wider choice of insurance products for businesses and corporate customers as well as consumers.
“We’ve already started building capability and I’m delighted that Mike is joining to lead the expansion of the business.
"His appointment and our conversion to subsidiary status demonstrates our long term commitment to China.”
