OREANDA-NEWS. July 1, 2011. On June 24, business negotiations between the General Director of Ingosstrakh OJSIC, Aleksander Grigoriev, and the President of one of PRC's largest life insurance companies China Life, Wan Feng, were held in Moscow. The meeting resulted in signing a contract for mutual reinsurance and the standards for organizing the servicing of tourists of both countries during their travels to Russia and China.

Furthermore, at this warm and friendly meeting, the parties also discussed the problems and prospects of the development of Russian and Chinese insurance markets paying special attention to life insurance issues. The parties arrived at a common view, that well thought-out and consistent state policy is fundamental to the successful development of life insurance being one of the bases of the population welfare and economic stability.

The companies signed the contract under the aegis of the Federal Tourism Agency in the framework of the previous agreement signed between the Russian Association of Tour Operators Nonprofit Partnership "Association of International Integration in Tourism "The World without Borders"" and Chinese life insurance company China Life for working out of single medical and insurance standards of servicing the tourists of both countries. In the nearest future, it is planned to establish service centers throughout Russia and China, where a tourist can get the required support in his/her native language free of charge in case of force-majeure circumstances. Currently, China Life has Russian speaking employees.

According to the General Director of Ingosstrakh OJSIC, Aleksander Grigoriev, mutually beneficial cooperation will open up big business prospects for both companies ensuring a new level of services provided to the Russians going to China and the Chinese visiting the Russian Federation. Elimination of the language barrier in communication between the tourists suffered and the employees of the service centers will make it possible to enhance the efficiency and improve the level of quality medical assistance to the clients in a foreign country in difficult life situations.