Munich Re, the world's largest reinsurance company, is set to start operating in China early next year, according to Hong Kong branch chief Andrew Duxbury.
Mr Duxbury said the company would like to open a branch in either Beijing or Shanghai.
China opened the market to direct insurance providers 10 years ago and more than 15 foreign insurers now operate there. However, it has only now opened its reinsurance market by inviting Munich Re and its rival Swiss Re to apply for licences to operate on the mainland.
Unlike the direct foreign insurance operators, that need to have joint venture local partners and licences for each city, the reinsurance companies may operate from wholly-owned branches can also underwrite business on a nationwide basis.
Mr Duxbury said he was optimistic about prospects in China.
