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"China is one of our major target markets for development because we believe the Chinese market is promising," said Bob Mendelsehn, CEO of British Royal & Sun Alliance Insurance Group, the oldest insurance company in the world.
"With upcoming China's entry into the World Trade Organization (WTO), our company will enter into a stage of rapid development," said Bob Mendelsehn at the opening ceremony of www.imseminars.com, a website aimed at improving management and English of enterprise administrators.
In addition, the China Insurance Education Foundation, founded by the company to encourage the study of insurance, Thursday awarded prizes to some Chinese students, according to sources from the company.
With a total fixed asset of around US$100 billion, the insurance company is one of the top ten property insurance companies in the world. The company operates business in 55 countries and regions across the world.
In as early as 1853, the company opened its insurance service in Shanghai. In 1992, it set up an office in Beijing and in October 1998, it established a branch in Shanghai, making it the first British company to operate in China.
(Xinhua 10/20/2000)
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