Heng An, AIA Launch Participating Insurance Products

TIANJIN, Oct 09, 2008 (SinoCast via COMTEX) -- SLFPF | Quote | Chart | News | PowerRating -- Tianjin-headquartered Heng An Standard Life, a joint venture between the UK Standard Life and Tianjin TEDA Investment Holding Corporation, releases a new participating insurance product, in attempt to meet consumers' demands for medium- and long-term wealth management.

In addition, American International Assurance Company (AIA), one of the largest life insurers in Southeast Asia, also starts setting foot in the participating insurance field recently.

By far, participating insurance products have became the second favored business for insurance firms following universal life insurance, amid the fluctuating financial market and capital market in the world.

With registered capital of CNY 1.32 billion and founded on December 1, 2003, the Tianjin-based insurance firm has business in Tianjing Municipality, Beijing, Jiangsu Province, and Shandong Province.

AIA, a subsidiary under American International Group, Inc. (AIG), is said to sell its China business as the parent company earlier announced the sale of its three subsidiaries in Japan.

From www.hexun.com, Page 1, Wednesday, October 08, 2008 info@SinoCast.Com

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