Allianz China Life Insurance Co., Ltd. is a joint venture life insurance company formed by Allianz SE, the German financial services conglomerate, and CITIC Trust. The company was the first European joint venture insurer in China, officially open in Shanghai on 25 January 1999. At present, Allianz China Life has registered capital of two billion Yuan, of which Allianz SE owns a 51 percent stake and CITIC Trust owns 49 per cent. Combining the best of international risk management from Allianz with local financial management and financial expertise from CITIC, Allianz China Life has earned a strong reputation for its customized products, professional training and trustworthy service. The company offers all lines of life, retirement, investment, education, health and accident insurance products and services through agency teams, banks, and alternative business channels to meet the comprehensive needs of customers Over the course of its thirteen years in China, Allianz China Life has established eight provincial-level branches in Shanghai, Guangdong, Zhejiang, Sichuan, Jiangsu, Shenzhen, Beijing and Shandong to provide professional insurance products and services to more than 700,000 customers in nearly 40 cities.