AIG Allowed to Open Life Insurance Company in Beijing

Emerging Markets Economy, Apr 8, 2003

American International Group (AIG), the leading US-based international insurance and financial services company, has announced that its wholly owned subsidiary, American International Assurance Co. Ltd., has received authorization from the China Insurance Regulatory Commission to open a Beijing life insurance company.

AIG will therefore become the first foreign insurer to be allowed to sell life insurance policies in Beijing, according to the China Economic Information Network.

AIG offers a wide range of commercial, personal and life insurance products in 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. -(EMEconomy.com)