Hong Kong, 15 October 2021– AIA Group Limited (“AIA” or the “Company”; stock code: 1299) is pleased to announce that AIA China has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) Hubei Bureau to begin operations in Wuhan, Hubei province.
Lee Yuan Siong, AIA Group Chief Executive and President, said, “We are delighted to receive approval to launch our newest branch in Hubei as we move forward with our geographical expansion in Mainland China. Our scalable, highly-digitalised model enables us to efficiently replicate our differentiated Premier Agency in new geographies. We are also grateful for the trust and confidence the CBIRC has placed in us to make a positive contribution to the healthy development of the nation’s life insurance industry. I am confident that our differentiated products and services will generate high-quality, sustainable long-term growth and help even more families live Healthier, Longer, Better Lives.”
Fisher Zhang, AIA China Chief Executive Officer, said, “I am pleased to open our new office in the capital city of Hubei, Wuhan. Hubei province has a population of nearly 60 million and is one of the key economic growth engines for Mainland China. Wuhan is also a centre of excellence for higher education, providing a highly-attractive talent pool to enable AIA to recruit, train and develop our professional insurance agents and employees. We look forward to providing our long-term protection products and professional advice to the people of Hubei.”
AIA traces its roots back to Shanghai in 1919 and is the first foreign company with a wholly-owned life insurance subsidiary in Mainland China. It currently has operations in Shanghai, Beijing, Guangdong, Shenzhen, Jiangsu, Tianjin, Hebei, and Sichuan.