Dai-ichi Life Japan Licensed for Business Operation in China

The Dai-ichi Life Insurance Company, Limited (DLI) and China Huadian Corporation (Huadian) recently acquired a permit for pre-operation of a joint venture life insurance company in China from China Insurance Regulatory Commission.

 

DLI and Huadian have been working together to start a joint life insurance business, focusing on the potential of the life insurance market in China. Consequently, both companies have reached a basic agreement on establishing a joint venture life insurance company, and successfully acquired a permit to prepare to commence a new company from the China Insurance Regulatory Commission eventually. In establishing a joint venture life insurance company, both companies aim to cooperate with each other under an equal partnership.

 

Mr Koichiro Watanabe, President of DLI said: “After signing the joint venture contract, we will start pre-operation targeting the earlier commencement of business.”

 

This entry to the Chinese market follows DLI’s overseas business development initiatives in Vietnam, India, Thailand and Australia.