Aegon, Manulife China insurance JVs win approval to open new units
BEIJING, Jan 05, 2009 (XFN-ASIA via COMTEX News Network) -- The China Insurance Regulatory Commission said it has
given its approval to Aegon-CNOOC Life Insurance Co to open a branch in Qingdao
in eastern China's Shandong province.
Aegon-CNOOC Life is a 50-50 joint venture between the Netherlands' Aegon NV and
the China National Offshore Oil Corp (CNOOC), the parent of CNOOC Ltd (HK 0883).
Separately, the CIRC said Manulife-Sinochem Life Insurance Co, a 51-49 joint
venture between Manulife Financial of Canada and China's Sinochem Corp, won
approval to open a branch in Chongqing.
Aegon-CNOOC and Manulife-Sinochem reported premium income of 1.37 bln yuan and
1.21 bln, respectively, in the first 11 months of 2008.
(1 usd = 6.8 yuan)
allen.shu@xfn.com
MMMM
By Staff Reporter
(C) 2009 XFN, Inc. All rights reserved.
|
Make WallSt.net My Homepage!
