Hong Kong-headquartered AIA has received approval from Chinese regulators to launch operations in the province of Henan.
AIA has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) Henan Bureau to begin operations in the province, according to a statement.
«We are leveraging our high-quality differentiated premier agency model, digitally-enabled operations, as well as value-focused bancassurance partnerships to provide comprehensive solutions to millions more Chinese families,» said AIA group chief executive and president Lee Yuan Siong.
Central China
Located in central China, Henan is the third most populous province in the country with close to 100 million people.
«The life insurance industry in Henan has significant growth potential, which is underpinned by a sizeable middle class population, a very large provincial economy […] and an exceptional talent pool for recruitment,» added AIA China CEO Fisher Zhang.
AIA currently has operations in nine provinces and major urban areas in China including Beijing, Shanghai, Jiangsu, Guangdong, Shenzhen, Tianjin, Shijiazhuang, Sichuan and Hubei.
