NU Online News Service, Oct. 22, 2003, 10:02 a.m. EDT – Chinese insurance regulators have given Sun Life Financial Services Inc., Toronto, permission to sell life insurance in Beijing through a joint venture, Sun Life Everbright Life Insurance Company Ltd.
Sun Life formed Sun Life Everbright with China Everbright Group Ltd., Beijing, in April 2002.
China Everbright is a government-owned financial services company with three publicly traded affiliates.
The Sun Life Everbright joint venture now has a field force of 2,500 agents in 16 sales offices. The company has been selling term life insurance, participating life insurance and critical illness insurance in Tianjin, a Chinese port city with a population of 10 million, for more than a year.