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Marsh in talks with China oil cos to provide liability insurance - report


Published : Tue, 29 May 2007 03:17
By : Agencies
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BEIJING (XFN-ASIA) - New York-based Marsh Inc, a risk management and insurance broker, is in talks with China's oil companies to provide third-party liability insurance, the 21st Century Business Herald reported, citing Marsh's chairman and CEO for Greater China Paul Wilkins.

The oil firms include China National Petroleum Corp (CNPC), Sinopec Group and China National Offshore Oil Corp (CNOOC), the report said.

It said Marsh is also promoting its insurance products and services related to climate change in China.

Early this year, Marsh obtained a wholly-owned foreign enterprise insurance broking license from the Chinese insurance regulator, the first of its kind in China.

Marsh China had revenue of 73.5 mln yuan in 2006, up 128 pct year-on-year, the report said.

(1 usd= 7.65 yuan)

allen.shu@xfn.com

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