China Re, a Chinese insurance company, will be represented in Israel by the insurance and finance group Harel, the companies announced on Sunday.
This follows a growing number of global cooperation agreements signed between Harel and other international insurance groups, such as German-based Allianz, the English Royal Sun Alliance, Dubai Insurance Company, and more.
"This agreement is a further layer in Harel Group's strategy to strengthen and expand partnerships with the foremost insurance groups worldwide," said Harel president, Gideon Hamburger. "This partnership with China's strongest and foremost insurer reaffirms Harel's status as a leader in global business insurance for Israeli companies," he added.
China Re was established by the Chinese government in 1949, as The People's Insurance Company of China. The company operates in over 100 countries, and has signed more than 1,000 cooperation agreements with companies from around the globe.