Allianz has launched its business in Beijing, following similar establishments in the Yangtze River Delta and Pearl River Delta regions in northern China.
So far, Allianz China Life (AZCL) has established a business network in over 20 cities throughout China, with a sales team of over 10,000 agents and some 2,000 bank outlets selling its products in the six provinces where the company is active. In 2007, AZCL earned a premium income of approximately E293 million.
Christian Molt, CEO of AZCL, said: Beijing is the seventh metropolitan city we have become active in, with exciting potential and competition. It is also a hub and foundation for our geographic expansion to the northern part of the country.