Aegon says that its 50:50 joint venture with the Chinese National Offshore Oil Corporation – the AEGON-CNOOC Life Insurance Company Ltd. -has received a license from the Chinese regulatory authorities to start life insurance activities in Beijing.
Following the launch of AEGON-CNOOC’s headquarters in Shanghai in May 2003, Beijing will be the first branch office. It is scheduled to open in April 2005. AEGON-CNOOC aims to expand the scope of its operations in China.