BEIJING: Insurance company Sun Life of Canada (SLC) has handed Hill
and Knowlton its Chinese corporate PR account after receiving approval
in April to apply for a business licence. Under Chinese law the approval
for application means SLC needs to find a joint venture partner before
launching any financial products.
There are currently 96 foreign insurance firms in the process of vying
for a business licence in China, and there is no typical approval
The emerging state of China’s financial products market means
competition between foreign companies for a suitable partner is
SLC is hoping to offer individual life insurance products, but not
health insurance, in which it leads the market in Canada and the UK.
The insurance giant saw three international agencies pitch for the
account in Beijing and Toronto before handing the corporate brief to
H&K. Toronto-based SLC appointed H&K both in Toronto and Beijing ’to
co-ordinate and maintain consistency of messaging’, according to H&K
Beijing managing director Diane Ho. H&K has worked for large
multinational insurance firms in China before, including Aetna, Lincoln
Mutual and Prudential.
As an insurance provider in Asia, SLC is the market leader in individual
life insurance in the Philippines and has been operating in Hong Kong
A representative office has been in operation in Beijing since 1995,
conducting mainly market research and government relations.