|
|
 | | From: | Edmund Fitzgerald | | Subject: | Manulife-Sinochem Life Insurance given approval to expand operations in China | | Date: | Thu, 20 Jan 2005 07:20:15 -0500 |
|
|
 | From:
http://www.canada.com/businesscentre/story.html?id=5005f921-ed21-4ed4-9b87-f
a218017b18f
Manulife-Sinochem Life Insurance given approval to expand operations in
China
Canadian Press
January 19, 2005
TORONTO (CP) - Manulife Financial Corp. announced Wednesday that its
Manulife-Sinochem Life Insurance joint venture has been authorized to sell
group life and health policies and enter the pension business.
Manulife-Sinochem is owned 51 per cent by the Canadian insurer and 49 per
cent by China Foreign Economic and Trade Trust and Investment Co., a unit of
state-owned Sinochem Corp.
Manulife said the expanded licence granted by the China Insurance Regulatory
Commission will "significantly enhance Manulife-Sinochem's current product
portfolio - bringing our business scope in line with that of any domestic
insurer - which we plan to take full advantage of as soon as possible."
Manulife (TSX:MFC) noted that it is the only Canadian life insurance company
to have been granted this licence extension.
|
|
|
