Sompo Japan to ally with Bank of Shanghai

SompoThe Bank of Shanghai will create a sales partnership with Sompo Japan Insurance Inc. the deal may be publicized on Monday.

The Chinese division of Sompo Japan will begin marketing policies to business clients through the Bank of Shanghai in early 2011.

The Bank of Shanghai will acquire insurance experience form its Japanese counterparts. Meanwhile, the Japanese company will increase profits through expanding into the rapidly growing Chinese market.