Guangfa Group, Great-West Lifeco Strengthen Insurance Venture

On July 17, the chairman of Guangfa Group, Wu Lijun, held a working meeting with Kevin Strain, the CEO and president of Great-West Lifeco. The meeting focused on the strategic partnership between the two financial giants and the future of their joint venture, Guangfa Great-West Life Insurance.

Wu Lijun highlighted the positive performance of Guangfa Great-West Life Insurance in the first half of the year. He noted significant progress in the integration of banking and insurance services, as well as in the coordination between insurance and asset management. Wu emphasized Guangfa Group's confidence in the long-term development of the insurance industry and expressed the hope for further cooperation between the two entities. This collaboration aims to support Guangfa Great-West Life Insurance in deepening its reforms, enhancing its core competitiveness, and achieving high-quality development through practical measures.

Strain, on the other hand, reiterated Great-West Lifeco's optimism about China's economic development and its commitment to the Chinese market. He described Guangfa Group as a key strategic partner in China and pledged to leverage the company's professional strengths and global experience to deepen cooperation with Guangfa Group. Great-West Lifeco acknowledged the positive results achieved by Guangfa Great-West Life Insurance in its recent operational and developmental transformations. The company committed to providing comprehensive support in areas such as talent development, sales channel construction, and operational management to further enhance Guangfa Great-West Life Insurance's capabilities.

The meeting underscored the mutual commitment of both entities to the success of Guangfa Great-West Life Insurance. The collaboration between Guangfa Group and Great-West Lifeco is expected to drive further growth and innovation in the insurance sector, leveraging the strengths of both partners to create a more robust and competitive insurance product in the market. The focus on talent development, sales channel construction, and operational management highlights the strategic areas where both entities aim to enhance their capabilities and drive mutual growth.