Chinese Kerry Logistics has ventured into insurance business through the acquisition of Taishan Insurance Brokers (TIB), which provides a comprehensive suite of insurance brokerage and consultancy services in Asia.
Chinese Kerry Logistics has ventured into insurance business through the acquisition of Taishan Insurance Brokers (TIB), which provides a suite of insurance brokerage and consultancy services in Asia.
The firm has not disclosed the terms and conditions of the transaction, but expects that the acquisition to open the door for underwriting business in the Asian region.
TIB is a risk management and insurance consulting firm, which offers insurance products to both commercial and industrial sectors. It focuses on the development of integrated insurance products and alternative risk transfer products.
Kerry Logistics Network managing director William Ma said, "This is a significant addition to the Group and will provide our customers in the region with a broader range of insurance products and services."
"TIB will also enhance the coverage and competitiveness of the group’s services."