Allianz premiums increase 41%
By Zhang Fengming |
July 29, 2010, Thursday
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Print Edition
Print Edition
ALLIANZ China Life Insurance Co's premiums increased 41 percent to 253 million yuan (US$37.4 million) in the first half.
The joint venture life insurer yesterday tapped into the bancassurance sector targeting high-end, middle-class clients, or those whose financial assets are more than 500,000 yuan at banks. It has already started insurance services for private-banking clients.
The Shanghai-based insurer has teamed up with 18 banks including HSBC, Citigroup and the Industrial and Commercial Bank of China.
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