China regulator green lit AIA China's new branch

The insurer will establish a new branch in Henan.

AIA China, a subsidiary of AIA Group Limited, has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) to begin preparations to establish a new branch in Henan province.

AIA said that the Chinese life insurance market remains significantly underpenetrated and offers tremendous growth potential for the group as the insurer expands into new geographies and deepens its presence in the country.

“We are grateful for the continuing trust placed in us by the CBIRC with the upgrade of our licenses in Tianjin and Shijiazhuang and the successful opening of our latest branch in Hubei since the start of 2022. We look forward to bringing our compelling propositions to help families in Henan live Healthier, Longer, Better Lives,” Fisher Zhang, CEO of AIA China said.

Branch operations in Henan will commence on completion of AIA’s preparations and on securing final regulatory approvals.

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