Ping'an Insurance Group, one of China's leading life insurance providers, has joined Swiss Life Network, the world's second largest employee benefits network, as provider for the Chinese mainland market, company sources said Wednesday.

The new partnership was commemorated Tuesday in Shanghai.

According to their agreement, Ping'an Group will join hands with other members of Swiss Life Network to provide employee benefit solutions to transnational firms in line with internationally accepted practise.

"Subsidiaries of Swiss Life Network's client corporations in China will be able to enjoy employee benefit packages provided by Ping'an, including life, accident, medical as well as endowment insurance schemes," said Wang Liping, vice managing-director of Ping'an Group.

The cooperation is expected to expand the popularity and client group of Ping'an in the international market, and will enlarge its service sectors, too, said Wang.

Bruno Pfister, chief financial officer of Swiss Life Network, said his organization hopes to set up a "strategic alliance" with Ping'an combining the network's over 40 years of experience.

(Xinhua News Agency December 14, 2005)