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XL Gets Okay to Operate in Shanghai


Posted on 20 Dec 2010

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XL Group, which is based in Bermuda, will begin its business operations in Shanghai.

The company reported on Thursday thta it has obtained a licence from Chinese regulators to operate as a non-life property and casualty insurer in Shanghai, giving it access to a country with the third highest number of Fortune 500 companies.

Its unit XL Insurance (China) Company Limited, which will be headed by Zheqiang Xie, will begin operations after the completion of all the regulatory registrations.

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