The China Insurance Regulatory Commission has given ING Capital Life permission to underwrite group insurance in China.[@@]
ING Capital Life will start by selling group life, group short-term health and group accident products from its headquarters in Dailan, China, and later sell group products through its branch office in Beijing.
The company’s Dailan office also has permission to sell individual and group insurance products throughout Liaoning province, which has a population of about 42 million.
The province is part of China’s industrial heartland and is home to about 10% of the country’s large and midsize state-owned businesses, according to ING Capital Life, a joint venture that is partly owned by ING Groep N.V., Amsterdam.