Wednesday, July 30, 2008

Insurance opportunities

RSA is carefully watching China's construction and engineering insurance sector, the company said yesterday.

The insurer is checking business opportunities among China's booming metro, high-speed railway and power plant constructions which trigger demand for insurance, said Ringo Ho, leader of construction and engineering, RSA North Asia, yesterday in Shanghai .

Chinese mainland's construction and engineering insurance grew 27 percent year on year in terms of premiums to 3.1 billion yuan (US$454.5 million) last year. RSA grew faster than the market average, Ho said. RSA grew by 58 percent in the sector in the key markets of Asia and the Middle East in 2007. The insurer has a long-term commitment in China and puts profitability ahead of growth, said Zhou Haoming, head of construction and engineering, RSA Asia and Middle East.

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