The
British insurance company Prudential announced
on 31 January 2005 that it had been given the
green light by the Chinese authorities to sell
group life insurance in China.
Prudential will operate via Citic Prudential,
its joint venture with the Chinese company CITIC
(China International Trust and Investment Cooperation).
Citic Prudential which already has offices in
Guangzhou, Peking and Suzhou, will open an office
in Shanghai in the first quarter of 2005, and
will start to offer life insurance contracts
with effect from the second quarter.
