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US health insurance giant eyes Chinese market

(Xinhua)
Updated: 2008-04-08 10:02

WellPoint Inc, the largest health insurer in the United States and parent company of Anthem Insurance Companies Inc, said on Monday it had formally established the Anthem Insurance Companies Inc Beijing Representative Office.

Angela Braly, Wellpoint president and CEO, said "this move is to further establish a sound working relationship with Chinese insurance companies, and to bring the company's expertise and knowledge to China".

She said with the unprecedented quick development of the Chinese economy, Chinese people's needs in health and medical care were also on the rise, adding the company would endeavor to improve the life quality and medical care services in collaboration with the company's stakeholders, including government, private enterprises and partners.

Anthem Insurance Companies, Inc. received approval in August from the China Insurance Regulatory Commission to set up an office in Beijing.

WellPoint currently serves the needs of approximately 35 million people in the United States.

Europe's leading private health insurer, Deutsche Krankenversicherung AG, predicted last month that China's health insurance premium scale would triple to 120 billion yuan ($17.14 billion) in 2015 compared with 2007.