Allianz China Life has received regulatory approval to become the first wholly foreign-owned life insurance company in China developed from a JV
Chunjun Xu, Executive Director and Chief Executive Officer of Allianz China Life, said: "Allianz China Life will fully leverage the group’s global experience in managing life insurance, advanced digital technology, and pursuing strong brand value. The company will continue to consolidate its position as a pioneer and vital player in the middle and high-end customer segment, providing professional and comprehensive life insurance solutions for a growing number of Chinese customers.”
About Allianz China Insurance Holding
Allianz (China) Insurance Holdings Co., Ltd. is the wholly-owned insurance holding company of Allianz Group, and is also China's first wholly foreign-owned insurance holding company. AZCH will continuously develop the existing property and life insurance business, and also plans to leverage Allianz Group's professional experiences in insurance asset management, pension, reinsurance, insurance brokerage, credit insurance, insurance technology, and introduce foreign market innovation experience to fill the gaps in the domestic market.
About Allianz in Asia
The Allianz Group is one of the world's leading insurers and asset managers with more than 126 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.7 trillion euros** of third-party assets. Thanks to the systematic integration of environmental, social and governance criteria in our operations, business processes and investment decisions, we continue to be recognized as among the sustainable insurers in the Dow Jones Sustainability Index (September 23, 2022). In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
** As of September 30, 2022