China Taiping has deepen its global footprint by taking a step closer to establish an insurance company and an insurance agency in North America. China Taiping and Starr Companies signed cooperation agreement, setting up Taiping-Starr Holdings LLC, and exploring non-life insurance businesses of Chinese Enterprises in North America.
At the same time, China Taiping set up an overseas investment fund with Kaiyuan City Development Funds and Hopu Investment Management. The fund is going to work with the New York developers Fisher Brother and Witkoff to invest in Tribeca 111 Project, which is located in the core area of Manhattan, New York at approximately USD 800 million (GBP 526 million). Blackstone Group will provide the project loans.