Taikang to set up pension unit
According to China Times, the China Insurance Regulatory Commission has approved the establishment of Taikang Pension Insurance in Beijing this September.
The pension insurance firm, founded by Taikang Life Insurance and Taikang Asset Management and headed by Ma Yun, vice president of Taikang Life Insurance, has a registered capital of 200 million yuan (US$ 26.4 million) and mainly focuses on group pension insurance and enterprise annuities.
Sources from the new company said currently the company has decided upon its management while the process of recruiting talent is still underway.