AIG seeks to insure firms’ path overseas
Print Edition
AMERICAN International Group, the world’s largest insurance group, aims to open offices in almost all of China’s coastal provinces as it taps rising demand from Chinese companies’ overseas expansion.
The US-based insurer said it will offer cross-border services while expanding its presence with domestic credit insurance and car insurance coverage.
“We will actively seek geographic expansion in China from coastal areas to the inland as we see great market potential along with the country’s economic restructuring,” said Eric Zheng, president and chief executive officer of AIG China.
“We can use our global network to support overseas expansion of Chinese companies,” he said.
Zheng predicted the cross-border business to be driven by exporter’s product liability insurance, trade credit insurance, executive liability, merger and acquisition insurance and insurance coverage for overseas tourism services.
The insurer is also seeking to sell car insurance products in Jiangsu Province after ongoing trials are completed in Shanghai and Guangdong Province.
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