[Korea gimmingyeong financial newspaper reporter] AIA life and converted into a corporation in the domestic entry point to the system for 30 years.
According to a recent insurance industry, AIA Group has submitted the relevant documents to the Financial Supervisory Service (FSS) application to convert 22 days AIA Group Limited branch in Korea subsidiary.
After the preliminary approval, the approval of the supervisory authority, including approval by the incorporation of AIA Group Limited is expected to take a time of about one year.
If the AIA Group Limited is switched to all foreign corporations operating in the domestic life insurance company is a legal entity type.
There is an advantage that foreign companies can switch to if the subsidiary is justified relative freedom from regulatory headquarters in securing sales and product competitiveness for local recipients, such as ensuring the independence of Product Design, etc..
AIA Group Limited official said, "Through the incorporation will strengthen the long-term commitment to build a stable and solid customer service based on Korea market, strengthen sales competitiveness.
Financial Daily Economic News FNTIMES - unauthorized reproduction for commercial purposes in accordance with the Copyright Act, No copying, distribution,
Copyright ⓒ Korea's financial newspaper & FNTIMES.com
