NU Online News Service, Sept. 17, 5:07 p.m. – The China Insurance Regulatory Commission has approved an application from CIGNA Corp., Philadelphia, to enter the Chinese life insurance market.
The ruling makes CIGNA the first non-Chinese insurer to complete the application approval process since China entered the World Trade Organization in December 2001, CIGNA says.
Other foreign life insurers, including MetLife Inc., New York, and New York Life Insurance Company, New York, entered the Chinese market before the country joined the WTO.