Insurance giant Allianz expands its footprint in China with a new branch in the country's capital.
Allianz announced the official opening of its Beijing branch office, increasing its presence across China and deepening its ability to serve more customers in the world’s fastest-growing insurance market. China is the world’s second-largest insurance market, and in 2016, accounted for close to half of global insurance growth.
With a full branch license granted by the China Insurance Regulatory Commission (CIRC), Allianz is able to provide its suite of commercial and consumer property and casualty (P&C) solutions to customers in Beijing, the firm said in a press release.
The Beijing branch will be Allianz China General Insurance’s (AZCN) third branch in the country after Guangdong and Shanghai and, together with its sale services office in Shenzhen, completes Allianz’s P&C coverage across China’s tier-one cities.
