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Group insurance for multinationals enters China
( 2003-04-04 15:29 ) (8 )

Shanghai-based Taiping Life Insurance Company has signed agreements to introduce to China group insurance services for multinationals from the InternationalGroup Program (IGP).

It is the first time the special insurance service, the poolingnetwork service, has been offered in China.

Under the agreements, Taiping will mainly provide a package of welfare insurance for transnational companies' employees in China.

The IGP, first launched in America in 1967, is the largest of its kind in the world. It usually selects one insurance company ineach country to act as an agent.

By the end of 2002, IGP had sold insurance services to 5,000 branches of 665 multinationals in 46 countries and regions. Two-thirds of IGP's clients are among the top 500 companies listed in Fortune magazine.