Chief executive Julian James says it is an 'honour' to open office in China.

Lockton has officially opened its Shanghai office today.

Lockton Companies International chief executive Julian James said: “It is a great honour to be awarded a WOFE insurance brokerage licence in China – only the second company to achieve this distinction.

"We really appreciate this opportunity to be part of China’s exciting future and also to introduce our international risk management and insurance brokerage experience.

James added: “We will to continue to introduce innovative risk transfer and insurance solutions and educate and assist corporate local insurance buyers in their purchasing strategies.

"Chinese buyers will be supported by the local insurance management team that are here today. Led by Monica Dang, the local Shanghai team will be responsible for the operation of the office, and will in turn be supported by Lockton’s global expertise.”

Executive director of Lockton's China region, Greg McCoy, said: “We have assembled a China management team with vast experience in delivering risk protection solutions to both major local Chinese enterprises and multi-national companies with substantial operations in China. We are based in a superb location from which we can help clients to mitigate their risks and grow their businesses, all the time delivering further investment into the exciting China market.”