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This new partnership is a recognition that your joint venture with Minmetals not
you have not been satisfactory so far?
Absolutely not. The proof that our new business rose by a further
54% in the first half and we just beat this month, record our history
sales in China. Also, I'm convinced it's because we had this joint
venture with Minmetals ICBC wanted to work with us today. It allowed us to
prove ourselves in this market. There are 28 foreign insurers in China, ICBC was thus 27
other possibilities. In China, we need to know to register in time, and that's what we
allowed to do our joint venture with Minmetals. Simply, it was a partnership that
we brought enough in terms of distribution capability and penetration
this market in terms of our ambition.
Have you not had a serious dilemma before agreeing to give up a majority stake?
First, it is engraved in stone as the operational director of this joint venture will
appointed by AXA. Above all, there is not have any dilemma when asked to
51% choose between a small plate and 27.5% of very large. He must realize that
agreement with ICBC we can simply change the scale, and thus there
had no hesitation. ICBC is neither more nor less than the actor's most powerful banking
China, with some 16,000 branches, 235 million consumers, 70 million holders
credit cards, making it the second largest bank in the world on this plan. This is especially the
distribution network the most powerful and therefore we will have unprecedented access to
consumers.
ICBC will forge trade agreements with other insurers. Was not negotiable?
ICBC already has trade agreements with fifty partners here. It seems
natural to keep this possibility, because there are products that we do not want
market, for example because we do not find them profitable enough, but
ICBC hopes to offer its customers. It is therefore necessary that he can provide
elsewhere. However, we have an exclusive partnership with ICBC capital.
What are your goals?
WEE CHI Flat Iron
We believe that things will start very soon and that by 2011, this partnership will
significant impact on the results of AXA China. But our goal is to be there long
term. Because China seems to be a growing market for insurance and
which, therefore, should grow very rapidly in the coming years. We
therefore aims to become the first joint venture in the insurance industry and one of
earliest players in the Chinese market. ICBC has the means to measure a giant
the local as China Life Insurance.
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Par
mrdear le vendredi 29 octobre 2010
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