RBC Insurance announced on Thursday the opening of RBC Life Insurance Co.’s new representative office in Beijing. The new office will allow RBC to liaise with governmental and regulatory bodies, conduct market research and establish an RBC Insurance presence in the Chinese marketplace.

“This is the first step for RBC Insurance in entering the Chinese market,” said Neil Skelding, president and CEO, RBC Insurance. “It is part of a larger commitment on our part to further strengthen our ties and cooperation with China’s governmental regulatory authorities and insurance companies.”

RBC Insurance received approval from the China Insurance Regulatory Commission on June 7, 2006 to establish the representative office. The office, which is located at RBC’s branch at 7 Financial St., Winland International Financial Center, will initially have a staff of two local RBC employees including Tom Chen as chief representative.

“The newly established representative office demonstrates the desire of RBC Insurance to develop a better understanding of the Chinese insurance market and to establish strong, long-lasting and mutually beneficial relationships with China,” added Tom Chen.

RBC was the first North American bank to offer financial services in the People’s Republic of China in 1954, and the first Canadian bank to open a representative office in Beijing in 1981. Today, RBC operates a branch in Beijing and Hong Kong, the latter from where it also offers private banking, full service brokerage, correspondent banking and capital markets services.