AIA and Allianz Insurance Asset Management officially opened, and the two foreign insurance asset management companies have been formally approved

At the end of the year, a key move in financial opening-up has been made in Shanghai.

Two foreign-funded insurance asset management companies have officially been approved to commence operations, introducing new participants into China's insurance fund management system and providing new observation samples for changes in the industry structure.

Foreign Insurance Asset Management Companies Established in Shanghai

The Shanghai Financial Regulatory Bureau has issued two administrative licensing approvals, officially allowing AIA Asset Management Company Limited and Holland Global Life Insurance Asset Management Company Limited to commence operations, with approval dates both set for December 30, 2025.

The simultaneous approval of the two institutions indicates that the relevant preparatory work has completed the regulatory approval process and marks the entry of foreign insurance groups into the substantive operational phase of asset management in China.

What is Insurance Asset Management?

Insurance asset management refers to the unified investment operation of long-term premium funds formed by insurance companies by professional asset management institutions.

Under regulatory constraints, insurance asset management institutions achieve long-term stable value appreciation of funds through asset allocation in bonds, equities, alternatives, and other assets.

Equity Structure and Background

In terms of equity structure, both insurance asset management companies are wholly foreign-owned.

Among them, AIA Asset Management Company Limited has AIA Life Insurance Company Limited as its sole investor. AIA Life is the first wholly foreign-owned life insurance company in mainland China, and its ultimate controlling party, AIA Group, originated in Shanghai and has a history of over a century, currently covering 18 markets in the Asia-Pacific region.

The other approved institution, Holland Global Life Insurance Asset Management Company Limited, was initiated by the Dutch Global Life Insurance Group. This group has a history of over 180 years and has long been engaged in life insurance, asset management, and retirement solutions, with a service network covering multiple countries and regions.

Registered Capital and Main Team

The regulatory approval indicates that AIA Asset Management has a registered capital of 100 million RMB, fully subscribed in one lump sum by AIA Life Insurance Company Limited in cash.

In terms of corporate governance, Zhang Xiaoyu has been approved to serve as Chairman, and Ouyang Liliang has been approved to serve as Director and General Manager; MARK KONYN, Zhang Fenghe serve as Directors, and Wu Lan, Chen Shiyi serve as Independent Directors.

Holland Global Life Insurance Asset Management has a registered capital of 250 million RMB, fully paid in one lump sum by the Dutch Global Life Insurance Group in cash