The opening of the Shandong Branch is an important milestone for Allianz in its efforts to further accelerate its business expansion in China. Allianz China Life also announced a co-operation with Jinan Shizhong Charity General Association and the Labor and Employment Office of Shizhong District, Jinan City to support the re-employment project of laid-off workers in Shandong.
Shandong branch established
Shandong Province has played a vital role in the economic development of China. In 2008, the GDP of Shandong Province hit 3,100 billion yuan (approx. 321 billion euros), representing a double-digit growth for 15 consecutive years. Shandong's large market capacity and huge consumption potential has attracted many German enterprises to open branches there.
Left to right: Ren Jianguo, head of China Insurance Regulator Bureau in Shandong, Zhang Chaochao, general secretary of Shandong provincial government; Lei Jie, official from Jinan municipal government
Bringing the benefits of insurance to many families
In addition, Shandong has distinguished itself within insurance industry. Last year, the premium income of Shandong's insurance industry reached 67.39 billion yuan (approx. 6.9 billion euros) the premium income from life insurance totaled 45.28 billion yuan (approx. 4.7 billion euros), up 43.3 percent and ranking the 4th place in the country.
Wilf Blackburn, CEO of Allianz China Life, has placed high expectations on the newly opened Shandong Branch, saying, "The Shandong market plays a vital role in the development of the North China region. Therefore, the opening of our Shandong Branch enables Allianz to further expand our business presence in Northern China, enabling us to bring the benefits of insurance to many more families. Allianz will be dedicated to providing professional services and attractive products for residents in Shandong.
As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.
Link to the disclaimer