Haier New York Life, the joint venture between New York Life Insurance Company and China's Haier Group, has opened a new branch in Wuhan.
Haier New York Life has a license for the economically important city of Wuhan. The operations received approval from the China Insurance Regulatory Commission to establish its Wuhan branch in November 2007.
John Harrison, CEO for Asian region, and vice chairman for New York Life International, said: Our entry into Wuhan further demonstrates the strength of our commitment and our confidence in the long-term growth potential of our China operations. Our outstanding joint venture with the Haier Group has experienced strong growth since Haier New York Life began operations in Shanghai in 2002 and we are confident that our expansion into Wuhan will play an important role in Haier New York Life’s future success.