NU Online News Service, April 5, 11:25 a.m. – The China Insurance Regulatory Commission has given Sun Life Financial Services of Canada Inc., Toronto, permission to sell life insurance in Tianjin with a joint venture partner, China Everbright Group Limited, Hong Kong.
Sun Life Everbright Life Insurance Company Ltd. will be the first foreign life insurance joint venture to operate in the city of Tianjin and its neighboring counties, an area with a population of about 10 million, Sun Life says.
The venture will start with a sales force of 2,000 agents, Sun Life says.
China Everbright is a financial services company that was founded in 1983. It entered the insurance business in December 1999, by setting up a life insurance joint venture in Hong Kong with Standard Life Assurance Company, Edinburgh.