Starr Companies Completes Ownership of Chinese Insurer; Entity to be Renamed Starr Property & Casualty Insurance (China) Company, Limited; Starr China Receives A- Rating from A.M. Best
NEW YORK--(BUSINESS WIRE)--Starr Companies has announced the completion of its majority ownership of Shanghai based Dazhong Insurance Company Limited of China. Going forward, the company will be known as Starr Property & Casualty Insurance (China) Company, Limited (Starr China).
“We are pleased to announce this milestone which is, in many ways, a homecoming for Starr. Our company can trace its roots back to Shanghai when C. V. Starr established an insurance agency there in 1919. Our history, experience and commitment to the country makes us uniquely qualified to serve the growing insurance marketplace in China,” states Maurice R. Greenberg, Chairman of Starr International Company, Inc.
The Company has been rated A- (Excellent) with a Stable Outlook by A.M. Best.
Starr will expand the product portfolio, beyond the existing auto insurance programs, with an array of commercial property and casualty products. Chinese corporations and businesses will be able to access secure coverage for various exposures such as accident and health insurance, political risk, financial and management liability, energy, environmental, aviation, marine, food safety, construction and property.
STARR COMPANIES (or STARR) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance.
For more information visit us at www.starrchinapc.com