BOC-Samsung Life Ins Co Ltd, a joint-venture insurance company invested by the Bank of China, Samsung Life Insurance and China National Aviation Holding Company, hosted an inauguration ceremony for its subsidiary BOC-Samsung Life Suzhou Center at BOC Tower, SIP on Oct 26. Executives from the company's shareholders and several local officials were present.

BOC-Samsung Life, started out in 2005 in Beijing as Samsung Air China Life Insurance Co Ltd, underwrites life, health and accident insurance products. The Suzhou branch is its 17th branch across the country.

"Suzhou's insurance market recorded premium income of RMB 64.79 billion last year, up 23.45% year-on-year. There is still plenty of room for growth. We are trying to seek a differentiated and innovative development based on the local characteristics," the new branch's general manager Jin Hongli said.