Ctrip Insurance Agency to Explore Insurance Services

As approved by China's insurance industry watchdog China Insurance Regulatory Commission (CIRC), Ctrip Insurance Agency Co., Ltd was unveiled at the end of this June.

The registered capital of the new company is CNY 50 million, according to a document issued by CIRC. It can act as agent to develop businesses such as sales of insurance products, premium charging, survey and loss adjusting, claim investigation and other insurance-related businesses as approved by CIRC.

Sun Maohua, Senior Vice President of Ctrip.com, will take charge of this company as executive director; Li Xiaoping, vice president of Ctrip, will take control of this company as general manager.

Ctrip Insurance Agency can develop insurance agent services independently after obtaining relevant certificates and finishing the industrial and commercial registration procedures, provided everything goes smooth.

Ctrip Insurance Agency acquired agent license to sell insurance products on traveling and vacation tour through its cooperation with China Pacific Life Insurance Co., Ltd and Sunshine Property and Casualty Insurance Co., Ltd from 2005.