To provide life and non-life insurance protections to the travel group

China Life Insurance has formed strategic partnerships with China National Travel Service (HK) Group, a Chinese travel group, to provide life and non-life insurance protections to the travel group’s staff – reported in Trading Markets.

Yang Chao, president of China Life, said: “China Life will actively provide comprehensive insurance protection services, corporate annuities, property, liability and vehicle coverage to the staff at the travel group.”

Mr. Chao stated that, through this co-operation, both the parties could also further enhance their market competitiveness by leveraging on sharing customer databases, sales agency networks and joint product developments.

Zhang Xuewu, chairman of China National Travel, said: “This strategic partnership is a result of win-win cooperation between the largest Chinese insurance group and the largest Chinese travel group on the basis of a long-term joint development, realizing complementary advantages.”

During the first half of this year, China Life Insurance, a Hong Kong-listed life subsidiary of China Life Insurance (Group), recorded unaudited accumulated premiums income of approximately Yuan 172.7 billion ($25.3 billion).