ALLIANZ CHINA LIFE EXPANDS INTO GROUP HEALTH SECTOR

Shanghai-headquartered Allianz China Life Insurance has confirmed it is expanding into the group health insurance market. The company, a joint venture between Allianz and China's CITIC Trust & Investment founded in 2005, already sells products through bancassurance and tied-agent channels. But it now wants to be one of the top employee benefits providers in China. Last year Allianz China Life, which has six branches through the country, saw its gross written premium soar 150% to Yuan3bn.