China permits three more foreign insurance firms to establish local units |
|
|
|
Published
:
Fri, 26 Oct 2007 07:01
|
BEIJING (XFN-ASIA) - The China Insurance Regulatory Commission (CIRC) said it has given its approval for another three foreign insurance units to be established in China.Generali China Life Insurace Co, a 50-50 joint venture between China National Petroleum Corp (CNPC) and Italy's Assicurazioni Generali SpA, has won regulatory approval to establish a branch in northeastern China's Liaoning province, the CIRC said in a statement on its website.Separately, the CIRC said Samsung Fire & Marine Insurance (China) Ltd and Cathay Life Insurance Co, a joint venture between Taiwan's Cathay Life and China Eastern Airlines Group, were also approved for units in Guangdong province and in Beijing, respectively.Yesterday, the CIRC gave similar approvals to Sino-foreign joint ventures by US insurer CIGNA Corp, the UK's Standard Life and Aegon NV of the Netherlands.allen.shu@xfn.com-xfnals/xfntmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
Print this Story
China to soon resume approvals for Sino-foreign securities JVs - report 