China Life, Swiss Life Join Hands in Intl Co-insurance

China Life Insurance Company Limited (SHSE: 601628, SEHK: 2628), the largest life insurer in the country, and Swiss Life inked an international co-insurance agreement on December 7, 2010, signaling that the Chinese life insurance firm formally joins in the international co-insurance organization.

On the day, the two insurance giants held a signing ceremony of the international co-insurance agreement in Beijing.

According to their agreement, the headquarters of Swiss Life will assist China Life to expand the group insurance business. And China Life, as a cooperation partner, will provide risk guarantee services for outlets of transitional companies in the nation, involving in accident, disability, and medical treatment products.

The co-insurance business is expected to help transnational companies make use of the staff welfare plan of all outlets in the globe to disperse the risk fluctuation of a single country, and customers still can enjoy the international dividends in the co-insurance network.