Munich Re’s Ergo unit is entering China’s property and casualty insurance market with a 24.9% stake in Taishan Property & Casualty Insurance Co through a capital increase, the German insurance company said on Monday.
The investment rounds out the German insurer’s portfolio in the world’s second-largest economy.
“We could imagine increasing our stake in the future,” ERGO China chief executive Juergen Schmitz told Reuters.
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