Insurance companies in China spent Yn119m on television advertisements in the first four months of this year, 92 per cent more than in the same period of 2001, said CVSC-TNS Research. The top spenders were Ping An Insurance, People's Insurance Co of China, China Life, China Pacific Insurance and Germany's Allianz Group.
In 2001, the sector spent a total of Yn279m on television advertisements, 43 per cent more than in the previous year. Ping An was the biggest spender with Yn61m.
Dutch group establishes Dalian life JV ING Insurance is to set up a 50-50 joint venture life insurance company in Dalian, its second in China, reported South China Morning Post. The joint venture with the state-owned Capital Group will have an initial capital base of Yn200m and it will sell whole-life and endowment policies and life insurance savings plans. The new firm plans to have a workforce of 1,000 within a year.