Groupama Insurance Company Gains Approval to Enter China Market

Home>>Business

Last updated at: (Beijing Time) Tuesday, June 17, 2003

Groupama Insurance Company Gains Approval to Enter China Market

The France-based Groupama insurance company gained approval here Monday to open branches in China, said Wu Dingfu, president of China Insurance Regulatory Commission (CIRC).

DISCUSSION

CHINESE

SEND TO FRIEND

The France-based Groupama insurance company gained approval here Monday to open branches in China, said Wu Dingfu, president of China Insurance Regulatory Commission (CIRC).

Groupama will provide service for Chinese farmers, said Jean Azema, CEO and president of Groupama.

Some 36 foreign insurance companies established 57 operational institutions in China, including four institutions from three French insurance companies.

CIRC also announced Chengdu and Chongqing as two open cities for foreign insurance companies.

Beijing, Tianjin and Suzhou opened up in March and Shanghai, Guangzhou, Shenzhen, Dalian, Foshan, Dongguan, Haikou and Jiangmen have already had foreign insurance companies in operation.

Wu said the Sino-French insurance circle was on good terms and welcomed French insurance companies to bring advanced products and experience into China.

Since China joined the World Trade Organization, the insurance industry has fulfilled its potential by increasing the pace of reform.

Established in 1900, Groupama has wide experience in agriculture, with total assets reaching 62.2 billion US dollars by the end of 2001.

Questions?Comments? Click here

China to Open Medical Insurance to Foreign Companies

Sino-foreign Life Insurance Company Operational

Foreign-funded Life Assurance Gets Government Approval

China's Private Car Ownership Tops 10 Million ( 4 Messages)

India, China Well Placed to Influence Regional Events: Indian Official ( 2 Messages)

US, India Monitor China's Nuclear Base ( 9 Messages)

Clinton Makes US$9.5 Million from Speeches Last Year ( 2 Messages)