, China

China OKs first JV firm in pension insurance sector

The country is gearing up to embrace more overseas-funded players to engage in its financial market.

China has approved the plans of joint venture of conglomerate Tianjin TEDA International and Scotland-headquartered Standard Life Aberdeen to set up Heng An Standard Life, a pension insurance company in the country, reports Xinhua News.

This makes Heng An Standard Life the first JV in the business sector.

According to the China Banking and Insurance Regulatory Commission (CBIRC), the firm will be the country’s first foreign-funded pension insurance company as China continues to open up its banking and insurance industries alongside improving business environment. 

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Natural disasters steer Asia Pacific towards parametric insurance
Swiss Re gives importance to parametric insurance amidst challenges like basis risk and modelling complexities.
Insurance
InterContinental Singapore is saving insurance for a rainy day
NUS Professor Charoenwong discusses the effectiveness and value of a Singaporean hotel’s rain insurance offer.
Insurance