SHANGHAI, Aug. 8, 2016 /PRNewswire/ -- Chubb announced today the launch of an innovative personal accident insurance benefit to the customers of Suning, one of the largest retailers and most recognized retail brands in China. Customers who purchase an extended warranty program from Suning for a home appliance or electronic device will now automatically receive up to RMB 1 million in insurance protection payable in the event they are injured by those items. This enhanced insurance protection from Chubb has been added to Suning's existing extended warranty program.
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A nationwide roll-out has commenced, starting with Shanghai and six cities in Jiangsu province. This will be expanded to the other regions of Suning's nationwide network, including online and offline product channels and retail outlets.
"This is the first of what we expect will be many significant insurance product offerings for Suning's vast customer base under the preferred provider distribution agreement we announced in April," said Zhang Bei, Chairman, Chubb Insurance Company Limited in China. "We are very pleased that through our close collaboration, the customized personal accident insurance benefit jointly developed by Suning and Chubb has been successfully launched.
"The launch symbolizes that our cooperation with Suning has entered into a substantive phase. We believe that with the deepening of our partnership, we will continue to launch more customized products in the future to meet the consumer insurance needs of Suning's 130 million registered members. Chubb has a long track record of offering relevant, essential protection for individuals, families and businesses of all sizes across the Asia Pacific region. We strive to enable renowned brands such as Suning to grow their business further with our insurance benefits," added Zhang Bei.
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.
In 1994, Chubb set up its first representative office in China. A branch company was subsequently established in 2000 in Shanghai, which was converted to a wholly owned subsidiary upon the approval of the China Insurance Regulatory Commission. The company currently has two operations in Shanghai and Jiangsu provinces, with plans to commence operations in Guangdong province and other regions in the near future.
