According to China Knowledge, ING Capital Life, a joint venture life insurance company between the Netherlands-based ING Insurance and Capital Group of Beijing, has opened a new branch in China's Henan province.

The new branch will be the company’s fourth provincial branch in the country.

Following the opening of branch in Henan, ING Capital Life plans to open a branch in Hefei of the Anhui Province and is awaiting regulatory approval, the report said.

ING Capital intends to cater to the insurance needs of approximately 97 million people of the Henan province, the report added.