OREANDA-NEWS. September 20, 2012. Last week negotiations were held in Moscow between Alexander Grigoriev, General Director of Ingosstrakh Insurance Company, and Van Inchen, President of PICC Property & Casualty.

During the meeting, the parties discussed promising areas of cooperation between the companies, exchanged opinions and relevant information about the matters related to the development of national insurance markets in Russia and the People’s Republic of China. The parties agreed on bilateral cooperation development in the sphere of insurance, exchange of experience and information related to insurance and reinsurance of property interests (risks) of citizens and legal entities in Russia and China within the framework of national laws.

The visit of the Chinese company’s delegation and the negotiations held in Moscow continue the series of annual meetings of Ingosstrakh Insurance Company management and representatives of Chinese insurance and reinsurance companies. The delegations of China Life and China Re have recently visited Ingosstrakh Insurance Company with official visits. These companies, along with PICC Property & Casualty and Huatai, the first and one of the largest private insurance companies in China, are among the most active partners of Ingosstrakh Insurance Company in China.

Let us remind you that Ingosstrakh Insurance Company was the first Russian insurer to enter the Chinese insurance market and offer its services to the participants of the Russian-Chinese trade and economic cooperation. The beginning of the interaction of Ingosstrakh Insurance Company with the Chinese insurance companies was laid back in the 1950s, which allowed the Russian insurer to accumulate certain work experience in the People’s Republic of China, better know the Chinese insurance market and gain some reputation there.

An official representative office of Ingosstrakh Insurance Company was opened in Beijing in 1998 aimed at tightening the coordination of activity of the insurance companies in both countries and developing new promising trends of cooperation. At present, the representative office ensures organizational support of insurance of transport export operations, external trading contacts, insurance of Russian and Chinese tourists, provided by Ingosstrakh Insurance Company.