American International Group, Inc. AIG, People's Insurance
Company (Group) of China (“PICC”) and PICC Life Insurance Company
Limited (“PICC Life”) announced today that they have entered into a
joint venture agreement to form an agency distribution company in China.
In December 2012, AIG invested US$500 million as the largest cornerstone
investor in the PICC initial public offering. In connection with this
investment, PICC Life and AIG agreed to form this joint venture agency
distribution company. Products under consideration to be distributed by
the joint venture company include jointly developed life and retirement
insurance products, existing PICC life products, PICC Property &
Casualty (P&C) insurance products, AIG P&C products, as well as other
See full press release
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