AIA Allowed to Start Group Insurance Business
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[May 29, 2006]

AIA Allowed to Start Group Insurance Business

(SinoCast China Business Daily News Via Thomson Dialog NewsEdge)BEIJING, May 30, SinoCast -- American International Assurance Co., Ltd. (AIA), a wholly-owned subsidiary of American International Group, Inc (AIG) and the biggest life insurance group in Southeastern Asia, announced that it has officially got the green light from China Insurance Regulatory Commission (CIRC) to let its China branch to operate the group insurance business in the eastern country.



The go-ahead means that it can contain a series of insurance products like group life insurance, group accident injury and health insurance, group medical insurance and group annuity insurance by signing a group insurance contract.

This group insurance contract can supply guarantee for the special group members of 5 or over 5 persons, and it is suitable for enterprises to buy insurance for their employees and their families.



On December 11, 2004, China's group insurance business and health insurance business officially opened to foreign capital. However, because of underground guarantee slip, AIA had withdrawn the application for the group insurance business in China market in 2005.

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