ING Expands Further into China

ING in collaboration with Beijing Capital Group has received the necessary approval to set up operations in Henan, China. This expansion is going to greatly increase the amount of business that ING conducts in China. The main goal of ING is to make a dent in the life insurance market in China. They feel that by offering the best in premium income terms that they are going to be able to become one of the top three life insurance providers in the entire country. While ING officials are not expecting this to happen overnight, they do have the resources necessary to make this happen.

The first branch that ING is going to open will be in the capital of city of Henan. But even though this is a good start, they do not plan on stopping there. The license that ING received also gives them the ability to open up sales and marketing offices across the area. This will allow them to better communicate and serve over 100 million people in the province. With a ranking of fifth in gross domestic product and a large population base, it is easy to see why ING wanted to take advantage of this area. At this point ING already operates offices in 12 cities in China. The addition of Henan to the mix is sure to establish them as a major player in the life insurance industry.