Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Company

China's first wholly foreign-funded insurance holding company opens in Shanghai

January 17, 2020


Abstract : China's first wholly foreign-owned insurance holding company, Allianz China Holding, opened in Shanghai on Thursday.

SHANGHAI, Jan. 16 (Xinhua) -- China's first wholly foreign-owned insurance holding company, Allianz China Holding, opened in Shanghai on Thursday.

The insurance company, fully owned by Allianz Group, has 2.72 billion yuan (about 392 million U.S. dollars) in registered capital.

"Today's launch underlines the positive long-term cooperation between China and Germany, and positions us to play an even greater role in the fastest growing economy in the world," said Oliver Bater, chairman and CEO of Allianz Group, at the opening ceremony.

"This is an important moment for our business, both in Asia and globally," said Sergio Balbinot, chairman of Allianz China Holding.

The company's application for establishment was approved by the China Banking and Insurance Regulatory Commission in November 2019 as the country has taken a slew of measures to open up the insurance industry, including removing the foreign ownership cap on life insurers since Jan. 1.

Scan the QR code and push it to your mobile phone

Keyword: Shanghai foreign-funded insurance holding company

Reading:

China's industrial output expands 5.7 pct in 2019

Brazil's coffee exports to China double in 5 years

China encourages Moroccan companies to expand exports to Chinese market via CIIE

Interview: Chinese FM's Djibouti visit to foster already blossoming bilateral ties: expert

Beijing improves business environment

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial