ING Capital Life Insurance, ING Groep's insurance joint venture with Beijing Capital Group, has officially opened the doors of its Shandong, China branch for business.
The Shandong branch will initially offer a mix of traditional life, annuities and medical policies to the citizens of Jinan. These products will be sold via tied-agents and insurance brokers, while the company is actively developing its bancassurance sales channel.
ING Capital Life Shandong Branch plans to expand its product range to include universal life, group insurance and accident insurance products and open additional sales offices throughout the province once operations in the capital are established.
Our strategy in China is to seek sustainable, profitable growth by being the preferred provider of life and savings products and by setting the standard to meet our customers’ financial needs, stated Jacques Kemp, CEO of ING Insurance Asia/Pacific. The opening of ING Capital Life Shandong Branch in Jinan is a milestone for ING’s development in the Bohai Bay region.