CHINA - Generali is to act as an adviser on pension plans for retired employees of state-owned enterprises (SOEs), held by the Chinese Central Government.
The CCT Group has been chosen by SASAC as a pioneer for all SASAC state-owned enterprises involved in the reform and restructuring of State-owned assets and personnel.
Balbinot said Generali was selected to provide SASAC and CCT Group with technical assistance on pensions and benefits for retirees of SOEs.
He said: "In its advisory role, Generali intends to draw on and share with China Chengtong its international expertise."
In 2002, Assicurazioni Generali S.p.A. and China National Petroleum Corporation (CNPC) established the Generali China Life Insurance Company - a life insurance joint venture.
In 2005, it wrote a single-premium group policy covering 390,000 CNPC retirees.
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