Switzerland-based Zurich Insurance opened the doors of its first Guangzhou branch in classic Lingnan style as Jack Howell, president of the group's Asia Pacific region, put the finishing touches on the eyes of two dancing lions on March 21.

This is the third established branch of Zurich Insurance in China after its Shanghai (2014) and Beijing (2015) branches. The decision to select Guangzhou as its third location completes the company's business plan to cover China's three major cities.

Switzerland-based Zurich Insurance opens its Guangzhou branch on March 21. [Photo/Southcn.com]

According to Howell, Guangzhou is an important hub of "the Belt and Road", and the enterprises trying to go global through "the Belt and Road" are the target clients of Zurich.

Established in 1872, Zurich Insurance Group has branches and offices in more than 200 countries and regions across Europe, North America, Latin America, Asia Pacific and the Middle East.

The company established its representative office in China in 1993, becoming the first European insurance company with representative organization in China. The group then established Zurich Property Insurance (China) in 2013.

Guangzhou surprised the group at both the beginning and end of the process, said Yu Luwei, general manager of Zurich (China), when discussing the decision to establish a branch in Guangzhou. 

"At the Davos forum held in Dalian in September 2015, we were amazed by the one-meter long blueprints for Guangzhou's next five and ten years presented by the city's Party chief Ren Xuefeng," Yu noted. 

President of Zurich Insurance Group's Asia Pacific region Jack Howell (L) and General Manager of Zurich (China) Yu Luwei discuss establishment of the third Zurich Insurance branch in Guangzhou, Guangzhou province. [Photo/Southcn.com]

The different level of government and the business circles paid great attention and provided great support throughout the whole process. "It only took us three days to finish the registration in the Tianhe district soon after we received approval from the China Insurance Regulatory Commission." 

"Guangdong has maintained a fast and strong economic development and has a competitive soft environment in China, though Shanghai is the gathering place for overseas-funded enterprises to headquarter, and China's capital, Beijing is famous for central enterprises," Yu commented.

Guangzhou attracts new investors with its distinctive advantages. "We see a promising prospect in both traditional and emerging industries in Guangzhou, including auto and internet industries," Yu added.

Zurich (China) will tailor its business to the demands of the market and the customers in Guangdong and promote a series of insurance products, including property insurance, liability insurance and financial insurance products, as well as personal accident insurance.