HONG KONG, 1 February 2019 – AIA China is pleased to announce that its Beijing branch office has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) Tianjin Bureau and Hebei Bureau to begin preparations for the establishment of sales and service centres in Tianjin and Shijiazhuang, Hebei.
This approval is received in accordance with the existing regulatory policy and pilot programme on promoting insurance integration under the Beijing-Tianjin-Hebei Integration Plan.
Fisher Zhang, CEO of AIA China, said, "We are delighted to receive the approval and look forward to bringing AIA’s differentiated products and services to more and more families in China while participating in the further development and integration of the Beijing-Tianjin-Hebei area.”
Ng Keng Hooi, AIA Group’s Chief Executive and President, said, "AIA traces its roots back to Shanghai in 1919, and today, China is both an integral part of our past and a fundamentally important market to our future. We are looking forward to the full opening of China’s life insurance market in due course, and will continue as always to contribute to the healthy development of the insurance industry in China.”
AIA China is now in the process of undertaking preparatory work to set up the sales and service centres in Tianjin and Shijiazhuang, as required by the relevant policy and regulations. We will commence operations once we receive final regulatory approval on the completion of our preparation work.