ING Capital Life commences group insurance

China joint venture granted approval to underwrite group life insurance and expand into Liaoning province.

ING Capital Life Insurance Company has announced a major business undertaking in the highly lucrative mainland insurance market. The joint venture between ING Groep and Beijing Capital Group will find itself tapping into new markets after receiving permission from the China Insurance Regulatory Commission CIRC to underwrite group life insurance policies and expand its base from Dalian and Beijing to include Liaoning province.

With immediate effect, ING Capital Life will augment its Dalian palette to include group life, group short-term and group accident products, targeting corporations and complementing its existing individual life business offered from its headquarters in the northern China city. According to the joint venture, the expansion of services...

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