Broker Benfield has opened a representative office in Shanghai, China.
The office will focus on servicing its existing client base in China as well as developing new opportunities in the country.
Benfield follows a line of insurers and reinsurers looking to capitalise on China's future growth potential.
The announcement follows moves by Prudential and Swiss Re to open Chinese offices. Meanwhile Lloyd's is currently awaiting the outcome of its application for a licence.
Benfield international operations chief David Spiller, said: "This is a significant expansion of Benfield's outreach in Asia. The potential of the Chinese market cannot be underestimated and cementing our presence in the region will enable us to better serve our existing customers while introducing new and exciting opportunities to the area."
