Haier

Haier-New York Life Insurance Company Limited Put Iinto Operation in Shanghai The Sino-American joint venture Haier-New York Life was unveiled December 20 in Grand Hyatt (Shanghai) by Haier CEO Zhang Ruimin and Mr. Gary Benanav, chairman and CEO of New York Life International. About 300 participants were officials from Shanghai Municipal Government and China Insurance Supervising Committee, shareholders, insurance company managers and media staff. At the opening ceremony, Haier-New York Life issued its first insurance policy of accident risk by its general manager Zhu Liming to Song Shucheng, a student of Baoshan Experimental Primary School Shanghai, a winner of Song Qingling Scholarship. Haier-New York Life also offered term life insurance policies to his parents. Haier-New York Life is invested with a combined RMB200 million by Haier Investment and Development Corporation and New York Life International with each owning half and the determination to make Haier New York Life one of the most respectable life insurance companies across China. Mr. Zhang Ruimin iterated that, "Haier has been operated with an aim to help people realize their dreams for happy life and insurance industry is destined to assist insured plan their future life with confidence. Entering in insurance sector will not only promote Haier's strategy in integrity of manufacture and finance, but also enable Haier to provide quality financial services to Haier appliance users." Mr. Gary Benanav said, "Haier is a well known Chinese company, and its corporate philosophy has been widely recognized. It is pleasant to cooperate with Haier. We hope our cooperation will provide more insurance services to Chinese customers."