Allianz China Life Insurance Company is set to establish a life insurance branch in Nanjing to serve the province of Jiangsu, after receiving a preliminary license by the China Insurance Regulatory Commission to operate in this region.
So far, Allianz Life has established business operations in Shanghai, Guangdong, Zhejiang, Sichuan and Shenzhen. The group has now started its intensive preparatory work for establishing the Jiangsu branch.
The province of Jiangsu ranks number one in terms of gross written premiums in China. Christian Molt, CEO of Allianz China Life, noted the strategic position of Jiangsu, and said: Establishing the Jiangsu branch completes the business network set up in the Yangzi river delta, which is a powerful economic hub in China with a strong potential and the political will towards regional economic integration. It’s a significant step for us in terms of branch rollout.
Mr Molt continued: Considering the province’s strong economy and insurance resources, we believe the Jiangsu branch will contribute significantly to the profitable growth of our joint venture. Currently we are recruiting talents from multi-channels – based on our principles of diversity and cultural suitability – and aim to build a competent team familiar with our high life insurance standards.