Cigna is considering growing its business in China, according to the South China Morning Post.
Three things to know:
1. Cigna may expand its health insurance product to China's Greater Bay Area, which has a population of about 70 million across 11 cities. The health insurance company has had a venture with China Merchants Bank since 2003.
2. When the Greater Bay Area and China formally allow the sale of cross-border medical insurance plans, Cigna is poised to expand, according to the report. Cigna already sells medical insurance in Hong Kong through its digital insurance partner, OneDegree.
3. "It is definitely very positive to see China opening up the Greater Bay Area," Cigna's Worldwide Life Insurance CEO Yuman Chan told the South China Morning Post. "We will be exploring the opportunities after the authorities clarifies the details of the regulation."