Manulife-Sinochem rolls out group insurance

JV becomes the latest to enter the space in China.

Manulife-Sinochem Life Insurance has become the latest insurer to launch group life insurance in China, rolling out three product packages in four of the cities which it has a presence. The announcement comes after months of solid preparation by the joint venture between Manulife International and the China Foreign Economic and Trade Trust Investment Company, a member of the Sinochem group. The announcement comes after the Chinese government lifted product restrictions for foreign insurers under WTO guidelines.

Initially, the joint venture will launch its group insurance platform to employers in Shanghai, Guangzhou, Beijing and Ningbo, with plans to extend the offering into Foshan, Dongguan, Hangzhou and Nanjing some time in the...

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