China's first joint venture life insurance company opens Beijing branch

China's first joint venture life insurance company, Manulife-Sinochem, opened its Beijing branch Thursday.

In 1996, the joint venture was established in Shanghai by Manulife International Limited and China Foreign Economic and Trade Trust Investment Company, a member of the Sinochem group. It has the first branch office in Guangzhou.

As the first joint insurance venture which gets a second branch license from the China Insurance Regulatory Commission, the new office marked the company's successful entrance into Shanghai, Guangzhou and Beijing.

Founded in 1887, Manulife is the biggest Canadian and the world's fifth biggest life insurance company.

Source: Xinhua