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(From SinoCast China Business Daily News)
BEIJING, September 20, SinoCast -- China Merchants Bank has become an agent for the cargo insurance business of Bank of China Insurance, per an agreement signed recently.
As the nation's largest publicly traded lender, CMB will transact cargo insurance for foreign trade companies in the name of BOC Insurance. It offers services like insurance application, premium receival and policy delivery.
"Mounting pressures brought them together," said a source at a bank engaging in bank insurance. …