|
On 17 June, 2004, a policy issued by AIA Shanghai branch, in which the sum insured was valued at RMB8,300,000, fulfilled the wish of president Zhang Xudong of the AnJia group.
The story is, that the holding company of Mr. Zhang, the Anjia group, successfully obtained an investment of USD2,000,000 from the IFC of the World Bank Group on condition of purchading a policy of Key Men Insurance. Mr. Zhang searched for this products through other intermediaries but failed to find the right product. Then he met with Ms. Guo Ping, president of Happylife99 to seek for help. At that moment Happylife99 was trying to introduce this insurance into China for the first time. Before that, Happylife99 had tried to arrange a product for a project which was financed RMB 100 million. But it failed due to lack of understanding from domestic and even foreign banks. That was because there is not a genuine Key Men Insurance so far in China market. With the active cooperation with AIA, Happylife finalized this insurance policy within one month. This satisfied the requirements of the IFC and successfully helped that client to get international financing.
 |
