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Aegon-CNOOC To Expand In China

Aegon-CNOOC Life Insurance Company, one of the world's leading insurance companies, has opened a new branch office in Guangdong, to expand its businesses in eastern China

Aegon-CNOOC Life Insurance Company, one of the world’s leading insurance companies, has opened a new branch office in Guangdong, to expand its businesses in eastern China.

Aegon established its joint venture with the China National Offshore Oil Corporation (CNOOC) in 2002, opening its first office in Shanghai. Currently, Aegon-CNOOC employs more than 900 people and has businesses across southern and eastern China.

Aegon said that its operations in China are part of its strategy to further strengthen the group's presence throughout Asia. In addition to its operations in Taiwan, Aegon will also begin operations in both India and Japan during 2008.

Alexander Wynaendts, chairman-elect of the executive board of Aegon, said: "With the addition of Guangdong, Aegon-CNOOC is now present in areas that have a combined population of over 300 million. We have a solid position in China and intend to leverage Aegon's broad capabilities for the benefit of our Chinese customers and to ensure continued growth in the years ahead."