Zurich Insurance : hunts for M&A targets in China

by swisscham in Bank, Finance, Insurance

Zurich Insurance Co Ltd is actively seeking merger and acquisition opportunities in China to fuel its business expansion, a company executive said on Thursday. “We are looking for appropriate M&A opportunities to boost our presence and expand our business scope,” said Stuart A. Spencer, chief executive officer of general insurance for the Asia-Pacific region. He said Zurich adopted a “defensive” stance during the global financial crisis. Now, thanks to a solid balance sheet, the company wants to be more aggressive. “We have no preference as to whether the target should be a domestic one or an international one having operations in China, but it should be a strategic and cultural fit with our business,” Spencer said. Last April, the China Insurance Regulatory Commission approved the Swiss company’s plan to transform its Beijing branch into a wholly owned subsidiary, making it easier to expand across the country. Spencer said the company has since submitted an application to the CIRC to open a branch in Shanghai.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
September 28, 2021
Published By s-ge.com in Business
September 18, 2021
Published By Consulate General of Switzerland in Guangzhou in Bilateral Relations
September 10, 2021
Published By enics.com in Engineering / Manufacturing
September 3, 2021
Published By baselarea.swiss in Business
September 2, 2021
Published By moodiedavittreport.com in Hospitality / Tourism / Retail