Starr, Dazhong Started All-aspect Strategic Cooperation
Thursday, Jul 14,2011, 9:07:15 AM Click:
Through ten months of negotiations, Starr International Company, Inc. on July 11, 2011 signed a contract with Dazhong Insurance Company Limited of China to start an all-aspect strategic cooperation.
Starr International, which owns a controlling right in Dazhong Insurance with a 20% stake, has the right to send two directors to the latter, disclosed people close to the matter.
Dazhong Insurance newly-appointed General Manager Ross E. Matthews said during an interview that Dazhong Insurance will not change name until the foreign partner officially becomes the first largest shareholder, adding that his insurance firm will develop shipping insurance, accident insurance, health insurance, and guarantee and liability insurance together.
Dazhong Insurance at yesterday's ceremony added two seats at the board of directors for Dazhong Insurance newly-appointed General Manager Ross E. Matthews and David Peng from Starr International. Peng is said to act as Dazhong Insurance Vice General Manager soon, disclosed people close to the matter.
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