According to Yicai Global, AIA Group and Global Insurance Group have received official approval from Chinese regulators. They are allowed to establish wholly foreign-owned insurance asset management subsidiaries in Shanghai. These are the first joint ventures of their kind set up by international insurance companies in the city.
Different Paths to Market Entry
AIA will create its asset management arm through its mainland subsidiary, AIA Life. Meanwhile, Global Insurance plans to enter the Shanghai market via direct investment.
Announcement at the 2025 Lujiazui Forum
Li Yunze, director of the National Financial Regulatory Commission, made the announcement during the 2025 Lujiazui Forum. This marks a key moment in opening China’s financial sector to foreign insurance investors.
AIA’s Goals for Its New Subsidiary
AIA’s new asset management company aims to improve the management of its insurance funds. It also seeks to expand its long-term investment capabilities. Additionally, the subsidiary will offer more professional investment services to its clients.
Background on AIA Life
AIA Life was formed after reorganizing AIA’s Shanghai Branch. It officially started operations in 2020. This company is notable as the first wholly foreign-owned life insurance firm in mainland China.
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