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China-US Insurance Advisory Co, an insurance brokerage firm and joint venture (JV) set up by China's PICC Life Insurance and US insurer American International Group (AIG), has begun operations, PICC Life said Wednesday.
The Shenzhen-headquartered JV has a registered capital of 100 million yuan ($16 million).
PICC Life has taken a controlling stake of 75.1 percent, while AIG APAC Holdings owns the remaining shares.
PICC net profits up 53.2 pct in H1
2013-08-28PICC and AIG joint venture deal signed
2013-05-31PICC sees Shanghai IPO in 2013
2013-03-11PICC sells more shares after IPO
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