Sino-Swedish life insurance company launched in Beijing

Home>>Business

Last updated at: (Beijing Time) Friday, January 09, 2004

Sino-Swedish life insurance company launched in Beijing

Skandia-BSAM Life Insurance Co. Ltd,a joint venture between Skandia Insurance Company Ltd. of Sweden and Beijing State-owned Assets Management Co. Ltd (BSAM), has beenlaunched in Beijing.

DISCUSSION

CHINESE

SEND TO FRIEND

Skandia-BSAM Life Insurance Co. Ltd,a joint venture between Skandia Insurance Company Ltd. of Sweden and Beijing State-owned Assets Management Co. Ltd (BSAM), has beenlaunched in Beijing.

It was the first insurance joint venture in the national capital to be approved by the China Insurance Regulatory Commission.

Information from the Beijing Municipal Insurance Regulatory Office showed that five joint ventures are offering life insurancein Beijing.

China's insurance business has big capacity for growth and the insurance market potential in Beijing remained enormous, said Beijing Vice-Mayor Lu Hao, while addressing the inaugurating ceremony on Wednesday.

"Beijing is opening itself wider to overseas insurance companies," noted Lu.

Insurance premiums in Beijing totaled 22.6 billion yuan (about 2.73 billion US dollars) in 2002, of which, life insurance premiums made up 16 billion yuan (some 1.93 billion US dollars).

Source: Xinhua

Questions?Comments? Click here

German reinsurance giant opens branch in Beijing

Foreign-financed Insurance Companies Report Surge in Premiums

Exploration rover "Spirit" lands safely on Mars ( 9 Messages)

Two major state banks to pilot joint-stock system ( 3 Messages)

China pondering its own "green card" system ( 16 Messages)

Roaring BMW: Was it "road rage" or an accident? ( 2 Messages)

Beijing's traffic no longer a headache by year 2008 ( 5 Messages)