Aon-COFCO Celebrates 20-Year Milestone of Helping Clients Make Better Decisions in China

SHANGHAI (20 June 2023) – Aon-COFCO, a leading integrated service provider in risk management, insurance and reinsurance brokerage, today announced it is celebrating 20 years of serving clients in China. Aon plc, a leading global professional services firm, along with COFCO Corporation, a large Chinese conglomerate, jointly established Aon-COFCO in 2003 following approval from the China Insurance Regulatory Commission. It was the first Sino-foreign joint venture insurance brokerage firm to operate in China involving insurance and reinsurance brokerage, as well as risk management consulting services.

Aon-COFCO is well-known in China for its focus on four key business areas, including Commercial Risk, Specialty, Health Services and Reinsurance. Its clients span a vast array of fields such as high-tech, new energy, life science, chemical, automotive, heavy industry, mining, electricity, hotel, logistics and warehousing, fast-moving consumer goods, agriculture and food, and film and entertainment, among others.

To celebrate Aon-COFCO’s 20-year anniversary, the Sino-foreign joint venture today held a grand anniversary commemoration in Shanghai themed, "20 years: Our proud heritage of client service continues."

Speaking at the occasion, Dai Jia, general manager of Aon-COFCO, said, "Over the past two decades, China's insurance industry has undergone an extensive transformation, enabling foreign insurance providers to increasingly serve clients in the Chinese market while fostering a thriving environment for Sino-foreign joint venture companies. Upholding its reputation as a forward-thinking industry pioneer, Aon-COFCO has consistently pursued innovation at scale and fostered an unparalleled team of experts.

“Even amidst increasing volatility in an unpredictable market, Aon-COFCO delivered data, insights and advice for clients through the combination of international know-how and local insights, setting a benchmark for better decisions and adding to the overall level of risk management in the China market. In the future, we will continue to leverage the expertise of our Chinese and foreign shareholders to deliver comprehensive, global risk solutions and services that cover the entire lifecycle. Our ultimate goal is to become a premier professional risk management advisor for our valued clients."

According to the YEARBOOK OF CHINA'S INSURANCE 2022, Aon-COFCO has secured the top position among joint-venture insurance brokers in terms of revenue in 2021. Since its establishment, the venture has set up eight branches located in Shanghai, Beijing, Guangzhou, Nanjing, Chengdu, Shenzhen, Hangzhou and Jinan and employs more than 700 highly trained and qualified professionals.

Jia said, “As an intermediary connecting domestic companies with international resources, Aon-COFCO plays a crucial role in helping organizations protect and grow their business. Focusing on serving the ‘real economy,’ we aim to lead the industry's development by exemplifying the principle of ‘insurance for the people,’ while contributing to the national strategies for the greater good of all. In the future, Aon-COFCO will continue to journey forward, exerting every effort to achieve the vision of becoming the preferred and trusted comprehensive risk solution provider for clients in the Chinese market. As such, we will raise the bar for risk management standards for domestic enterprises while exploring more imaginative and innovative horizons with an unwavering focus on delivering top-notch professional services.”

Through deep cultivation and accumulation of expertise in eight major industries, Aon-COFCO has developed industry vertical services. Going forward, the venture will continue to focus on the concept of “service increment and risk reduction” and promote the core model of “insurance plus risk management” to more industries and enterprises. “This will serve to benefit the national economy while creating sustained value for its corporate clients,” added Jia.

To learn more about Aon-COFCO, please visit https://www.aon-cofco.com.cn.

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