Generali China Life Insurance Co., LTD (GCLI), the first joint insurance venture after China's accession to the World Trade Organization in 2001, opened its Beijing branch on Monday.

With China National Petroleum Corporation and ASSICURAZIONI GENERALI of Italy, ranked 69th and 44th among the Fortune 500 in 2003 respectively as shareholders, GCLI was established in Guangzhou, capital of south China's Guangdong Province, in January 2002.

During its trial business from March 1 to May 31, the Beijing Branch of GCLI witnessed insurance premium earnings of up to 50.38 million yuan (6.1 million US dollars) and 48 insurance categories were offered, including the first accident insurance specially forthe old people in China.

Established in 1831, ASSICURAZIONI GENERALI is one of the biggest insurance groups in the world. It boasts 191 insurance and finance entities distributing around over 50 countries in the world.