Thursday January 24, 07:28 AM
China's Sunshine Insurance in overseas travel insurance tie-up with AXA
BEIJING (XFN-ASIA) - Beijing-based Sunshine Property and Casualty Insurance Co said it has launched an overseas travel insurance product jointly with Europe's No. 2 insurer AXA (Paris: FR0000120628 - news) .
The product is tailored for Chinese residents doing business, touring and studying abroad, Sunshine Insurance said.
Sunshine Insurance, which was set up two years ago by some of China's largest state-owned enterprises, said it booked 2007 premium income of 4.15 bln yuan, with net profit of 23.08 mln.
The insurer's shareholders include Sinopec, China Southern Air Holding, Sinotrans, Chinalco and Guangdong Electric Power Development, each holding an 18.18 pct stake.
(1 usd= 7.30 yuan)
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