BIZCHINA / China Insurance
Taikang plans pension insurance
By Song Hongmei (chinadaily.com.cn)
Updated: 2007-01-30 14:24
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Taikang Life Insurance Company, China's fifth largest life insurance
company, said it plans to set up a pension insurance company as the
country encourages voluntary contributions for retirement.
Taikang Life is in the process of getting approval from the China
Insurance Regulatory Commission (CIRC), the company's vice president Ma
Yun said yesterday.
The company expects to win the approval from the regulator in the near
future and is now preparing to apply for a pension trustee licence from
the Ministry of Labour and Social Security, Ma said.
Its asset management company will also apply for an investor licence to
handle pension funds from the labour ministry. After the pension
insurance company is set up, a complete chain of pension management
system will be put into operation, according to Ma.
......
The full text is available in the China Insurance.
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