ALLIANZ RECEIVES REGULATOR APPROVAL TO BEGIN OPERATIONS IN CHINA

China Banking and Insurance Regulatory Commission (CBIRC) approved Allianz request to conduct operations in world’s fastest growing economy.

Allianz will become the first fully foreign-owned insurance holding company operating in China. The approval comes after the Chinese government decided to boost foreign investments in China, by opening up the financial market and encouraging foreign financial institutions to settle new businesses.

Allianz has been operating in China since 1910s, offering fire and marine insurance solutions in coastal cities. Today Allianz has more than 2,000 employees and its offering services across protection, risk management and asset management…

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