Dutch life insurance provider Aegon, through its Chinese joint venture company Aegon-CNOOC Life Insurance Company, has started business at its newest Chinese branch in Nanjing.

Aegon–CNOOC, a 50/50 joint venture between Aegon and the Chinese National Offshore Oil Corporation, was awarded a license to operate in Nanjing in early June, making the Dutch insurer one of the first overseas insurance companies to gain access to the Nanjing market.

Aegon–CNOOC’s Nanjing, Jiangsu province branch is the company’s second branch in China. The insurance outfit was originally launched in May 2003 with the opening of its headquarters in Shanghai. Its first branch office, located in Beijing, opened in May 2005.

Our expansion into Nanjing continues Aegon’s growth strategy for Asia and long-term commitment to the Chinese market, said Aegon chairman and CEO Donald Shepard. We now look forward to providing the full range of Aegon’s life insurance products for the benefit of customers throughout the important Jiangsu province.