Allianz China insurance JV wins approval to establish Shanghai branch |
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Published
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Wed, 26 Dec 2007 03:28
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BEIJING (XFN-ASIA) - The China Insurance Regulatory Commission (CIRC) said it has given its approval to Allianz China Life Insurance Co to set up a branch in Shanghai.Shanghai-headquartered Allianz China Life is a 51-49 joint venture between Allianz AG and China's CITIC Trust & Investment Co, a unit of CITIC Group.Last month, the venture won CIRC approval to establish a branch in Beijing.Allianz China Life reported premium income of 2.88 bln yuan in the 11 months to November.(1 usd =7.33 yuan)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.
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Allianz China Life wins approval to open Nanjing branch 