XL Capital Ltd (XL) said Wednesday that it has received approval from the China Insurance Regulatory Commission to start preparation work to set up a P&C company in China.
XL now has a year to prepare to establish its operations in China. After this period and upon receipt of all regulatory approvals and granting of the license, XL plans to establish an insurance subsidiary dedicated to serving both local international corporations, as well as its Global Program clients with operations in China.
XL has had a representative office in Beijing since 2005 which is dedicated to deepening the company's understanding of the market.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.