ING Capital Life Insurance Company Limited (ING Capital Life), a
Sino-Dutch joint venture, on Wednesday announced the opening of a
branch in central China's Henan Province.
"Henan has distinct population, transportation and resource
advantages. The establishment of this branch underlies ING's
commitment to expanding its footprint in China," said Ewout
Steenbergen, Regional General Manager of ING Insurance Asia/Pacific
at the branch's opening ceremony Tuesday.
ING Capital Life is the first Sino-foreign joint-venture
insurance company to begin operations in the province, which is
China's most populated province and fifth-largest in terms of gross
domestic product(GDP).
ING Capital Life is the Netherlands-based ING Group N.V.'s
insurance joint venture set up in June 2002, with Beijing Capital
Group, a state-owned giant in financial and real estate
sectors.
Headquartered in northeast China's Liaoning Province, ING
Capital Life now has branch offices in Beijing and Shandong
Province, operating in 17 Chinese cities.
By the end of this June, there were 45 foreign insurance
companies from 15 countries and regions operating in China, making
up 4.56 percent of the nation's total insurance assets, according
to a recently published report on 24 foreign insurance companies by
PricewaterhouseCoopers.
(Xinhua News Agency September 20, 2007)
