Zurich opens center in Shanghai

SCHAUMBURG - Zurich Financial Services AG, Europe's fourth-largest insurer, has started a $3 million research and development center in Shanghai amid plans to set up a new marine insurance hub in the Chinese city. The Zurich-based insurer opened the center Tuesday, which it set up with the government of China's Pudong New district. The center specializes in marine insurance. "The idea is to build up a hub in Shanghai," spokesman Angel Serna said Wednesday. Zurich Financial operates its marine insurance business from London and Hong Kong.