Allianz Dazhong Life Insurance Company, a subsidiary of the Allianz Group, has revealed that its Guangzhou Branch office has received final approval from the China Insurance Regulation Commission and finished all legal application procedures, allowing the company to start insurance business in the local market.
Benno von Canstein, general manager of Allianz Dazhong, commented, Entering the Guangzhou market is a significant step in Allianz Dazhong’s long-term plan to develop a regional presence in China.
He added, Our target is to become the first choice among foreign life insurers in China by tapping into the huge potential customer base and offering our extensive range of tailor-made financial solutions and professional service.
Commenting on the company’s efforts to recruit a local workforce, Ong Pin Hean, general manager of Allianz Dazhong Guangzhou Branch, said, We imported Allianz’s ‘AAA Training system’ for local talents in the China market. The first team finished their basic training courses and passed the registration exam recently. They are qualified to provide a full range of financial service to clients.