The Beijing branch of the Zhaoshang Xinnuo Life Insurance Co. Ltd. was officially opened on April 19. It means China's first life insurance company that uses direct marketing instead of agents has appeared in Beijing.

Zhaoshang Xinnuo is the first life insurance joint venture based in Shenzhen. The two sides forming the JV are the investment promotion bureau and a subsidiary of the US Cigna.

Since its founding in September 2003 Zhaoshang Xinnuo has made full use of its strength and experience in the Aisa-Pacific insurance market and concentrated on selling clients of its partners protection life insurance, accident insurance and supplementary medical insurance products and services through its particular direct marketing channels. It realized standard premium revenue of more than 200 million yuan in 2004. It now has more than 34,000 clients in Shenzhen.

The Beijing branch is its first branch company opened since the founding of the Zhaoshang Xinnuo. The general manager said the company planned to use Shenzhen as its headquarters and expand its business to other cities and regions in China.

As learned the company has obtained a province-wide license to do business in Guangdong.

(People's Daily Online)