Establishment of a new Chinese insurance company

Shenghe Resources has received approval to set up a life insurance company.
Named Huagui Life Insurance, the new entity is the tenth insurance company to be licensed in China during 2016.

The life insurer whose capital amounts to 150 million USD is headquarted in Guiyang, capital of the province of Guizhou in the south of the country.

Note that the Chinese insurance market has, to date, 150 life and non life insurers and three reinsurers.

Read also:

• The Chinese reinsurance market is growing by 40% between 2014 and 2018
• Establishment of a third local reinsurer in China