Allianz China Life Insurance Company has opened a new branch in Nanjing, Jiangsu Province of China.
Jiangsu with its capital Nanjing has the major insurance industry among the 36 Chinese provinces, with a total premium income of 40.8 billion yuan in the first eight months of 2007. Given Jiangsu’s market potential, Allianz China Life is confident about its expansion into the province.
Bruce Bowers, the regional CEO for Allianz’s insurance operations in Asia, said: The new branch is evidence of our commitment to developing our presence in the Chinese market.
Christian Molt, CEO of Allianz China Life, said: The opening of the Jiangsu branch makes Allianz one of the leading international companies in Jiangsu. Jiangsu plays a key role in our strategy for the Yangtze River Delta area.