Cigna & CMC Life Insurance Co., Ltd. (“Cigna & CMC”), a joint venture company between Cigna and a China Merchants Group affiliate, announced today that the company has sold its one millionth policy in force in China. Cigna & CMC has been growing rapidly in the Chinese health and life insurance market since it was established nearly 10 years ago.
Mr. Ma Weihua, chairman of Cigna & CMC said: “This is a key historical milestone in Cigna & CMC’s successful growth story. The achievement reflects the collective focus and commitment of the joint venture team. It also illustrates the power of Cigna & CMC’s shared values and vision enabling the company to leverage resources to drive these results. This milestone will inspire Cigna & CMC to achieve even greater success in the next decade and beyond.”
As one of the most successful life insurance joint ventures in China, Cigna & CMC leverages Cigna’s more than 220 years’ experience, distribution expertise, and deep knowledge of insurance services. That foundation, coupled with CMC’s vast retail experience, powerful brand, and strong customer understanding, provides the power behind the JV company’s ability to succeed through its use of analytics and insights on consumer needs in China.
Cigna & CMC has developed a unique business model by embracing a shared vision and set of values for the company and leveraging resources and scale to solidify the reputation of an innovative and trusted brand in the industry. In just under a decade, the company has grown into an impressive insurance operation with licenses to operate in nine provinces across China, approximately 4,000 staff and 1 million in-force policies. In fact, the JV company also won the honor of being named China’s Best Foreign Life Insurance Company and ranks #1 in terms of comprehensive competitive capabilities among life insurance joint ventures in China.