China Grants 8 New Approvals to Insurers

October 26, 2001

According to a report from China’s official Xinhua News Agency, monitored by the BBC, eight insurance companies have received approvals from the Chinese government to begin operations, and/or to expand current operations.

The report lists subsidiaries of Germany’s Gerling, Allianza Swedish, France’s CNP, AEGON’s Transamerica Occidental from the U.S., CGU and Royal & Sun from the U.K. and France’s AXA as having received the approvals. It did not name the eighth company

According to Xinhua 27 foreign-funded institutions under 19 foreign insurance companies are now insurance services in China. They’ve established over 100 companies and some 200 offices in the country.

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