Allianz Opens Insurance Holding in China

Jan 20, 2020Updated Jun 4, 20251 min read

Based in Shanghai, the China holding company will support the German insurer’s growth ambitions in the country as it aims to play a larger role in China’s insurance sector and grow with the market.

Global insurer Allianz has opened China’s first fully foreign-owned insurance holding company, the firm announced in a statement on Thursday.

Allianz (China) Insurance Holding Company will be led by chairman Sergio Balbinot and CEO Solmaz Altin. The firm said it hopes the establishment of the company will support Allianz’s growth ambitions in China by enhancing its strategic and financial flexibility to capture business opportunities, further increase Allianz’s investment and drive long-term success in the market.

Allianz received the approval from the China Banking and Insurance Regulatory Commission (CBIRC) to commence operations in November 2019. The launch follows a series of measures recently announced by the Chinese government to further open up and encourage investment in China by foreign financial insurance institutions.

Tags

About the author

Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

Asia's retail intelligence, in your inbox