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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.