Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

New York Life, MetLife To Enter China Market

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Dec. 11, 9:20 a.m. – New York Life Insurance Company, New York, and MetLife, New York, both announced today that they have received approval from Chinese authorities to establish life insurance operations in China.

New York Life established a representative office in Shanghai in 1994 and since then has opened additional offices in Beijing, Guangzhou and Chengdu.

New York Life says it has invested in infrastructure projects in China, adding that it has also provided technical training courses on insurance regulation and supervision to Chinese regulators in Beijing, Shanghai, Guangzhou and Tianjin.

MetLife has been granted approval by the China Insurance Regulatory Commission to operate a joint venture life insurance company in China.

MetLife says its initial plans are to focus on the sale of individual insurance policies through a career agency system.

The company has representative offices in Beijing and in Shanghai. Since establishing its first office in 1995, MetLife has served as advisor in China on a number of projects with government agencies, the company says. It also played a role in supporting the passage of permanent normal trade relations status for China with the U.S. Congress and the executive branch, the company says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.