Allianz to set up in Guangzhou
1 May 2003
German insurance giant Allianz has begun operating a general insurance business in Guangzhou, South China Morning Post said. The business will provide property and casualty insurance coverage to foreign-invested enterprises, Sino-foreign joint ventures and non-mainland Chinese citizens.
Allianz had invested Yn200m to obtain the licence. The group's Asia-Pacific vicepresident said recently that it would invest a further Yn300m to open three more branches - in Shanghai, Chengdu and Dalian.
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