Allianz China Life, a joint venture between Allianz AG and CITIC Trust & Investment Co, said it has launched a bancassurance academy in Shanghai with Shanghai University of Finance and Economics.

Approximately 300 junior staff, middle managers and executives are anticipated to enrol for different certificate programmes and the the first group of graduates is expected by the end of August, Allianz China Life said in a statement.

Last year the gross written premiums for the joint venture jumped more than 300 pct to stand at 1.2 bln yuan, making Allianz China Life ranked fourth in terms of market share for foreign joint ventures, the company said.

Bancassurance is the leading channel for Allianz China Life, which has more than 1,000 banking outlets across the country and generates turnover of 880 mln yuan in 2006.