ING Capital Life Insurance Company Limited, ING Group N.V.’s insurance joint venture with Beijing Capital Group, has launched its Beijing Branch. ING Capital Life is headquartered in Dalian and received regulatory approval to start sales in Beijing in January 2005.
Barry Tsai, general manager of ING Capital Life, said, “ING Capital Life has made an auspicious start in the country’s capital. With the support of our Chinese shareholder, Beijing Capital Group, and our banc assurance agreement with Bank of Beijing, we hope to grow the business quickly and mirror the success we have seen in Dalian, where we are now number three in terms of new premium income.”