The People's Insurance Company of China (PICC) and PICC Life on Thursday inked a joint venture agreement with American International Group (AIG) to form an agency distribution company. In December 2012, AIG invested 500 million U.S. dollars as the largest cornerstone investor in the PICC initial public offering. In connection with this investment, PICC Life and AIG agreed to form this joint venture. Both sides planned to jointly invest 100 million yuan (16.16 million U.S. dollars) in the agency distribution company, aiming to offer Chinese consumers trustworthy life and retirement insurance products, with its first offices to be opened in Beijing and Shanghai, under the agreement. "The joint venture will take advantage of the combined merits of both sides to provide comprehensive and high-quality financial insurance services to Chinese well-off consumers through innovative products, service and sales," said Li Liangwen, president of PICC Life. Founded in 1949, PICC is the largest insurance company in China. In 2012, it ranked 292nd in the 2012 edition of the Global 500 published by Fortune magazine. American International Group, Inc. is a leading international insurance organization serving customers in more than 130 countries. AIG Insurance Company China Limited is a wholly owned subsidiary of AIG, headquartered in Shanghai.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor