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Sun Life, Everbright Start Tianjin Venture

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NU Online News Service, June 11, 10:34 a.m. – Sun Life Financial Services of Canada Inc., Toronto, and its joint venture partner, China Everbright Group Limited, have officially opened insurance operations in Tianjin, China.

Sun Life Everbright Life Insurance Company Ltd. is the first foreign life insurance joint venture to operate in the municipality of Tianjin, an area with a population of about 10 million people, Sun Life says.

Sun Life and China Everbright were granted regulatory approval by the China Insurance Regulatory Commission to begin selling life insurance in Tianjin in April.

The joint venture, which has a sales force of 2,000, offers term insurance with endowment, two types of critical illness, a personal accident plan, and juvenile insurance, Sun Life says.