Richmond-based specialty insurer Markel Corp. announced Friday that it will open an office in China.
Markel, through its London-based overseas subsidiary Markel International, said it has been granted permission from the Chinese Insurance Regulatory Commission to set up a representative office in Beijing.
Before the office can officially open, the company must first complete registration with the Beijing Administration for Industry and Commerce. Other Chinese post-registration procedures must also be met.
Markel said in its release that the new office will lead the company’s presence in mainland China and will provide a “sound platform for Markel to research the Chinese market, and continue to show Markel’s long term commitment to China.”
Markel International already has a presence in other parts of Asia, including Hong Kong and Singapore.
