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Insuring China
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Business New Haven
11/3/1997
By: Russell Stone
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HARTFORD - Aetna (NYSE:AET) has won approval from the People's Bank of China to open a joint venture insurance business in Shanghai. Richard Huber, Aetna's president and CEO, called doing business in China a “tremendous opportunity.” Working in cooperation with the China Pacific Insurance Co., the second-largest insurer in China, Aetna will offer life insurance to Chinese citizens and foreign nationals in Shanghai. In addition to its Shanghai branch, Aetna also has offices in Beijing, Shenzhen and Guangzhou. Aetna International already operates in 12 countries in Latin America and the Pacific Rim, selling insurance and financial services to 13 million customers.
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