ROYAL & SunAlliance Insurance Group Plc has received approval from the China Insurance Regulatory Commission to establish a subsidiary to sell non-life insurance in China, the company said.

The insurer, which has a branch in Shanghai, has secured permission to transfer its Chinese business to a subsidiary. The subsidiary will be wholly owned by R&SA, and the conversion process is expected to be completed in autumn.

Digital Advertising Channels Cash raised for outdoor expansion

DIGITAL Advertising Channels has raised US$35 million in its third round of financing from Asiavest and International Data Group as it seeks to expand its outdoor ads nationwide.

The Shanghai-based company, which has a network covering 350 colleges across China, said it will plow the proceeds into technology development and market expansion. Founded in 2004, DAC also expanded its advertising business into airports in 14 cities.