Allianz China Life Insurance Co opened a branch in Jiangsu Province yesterday - its sixth on the Chinese mainland.

The life insurance joint venture has branches in Shanghai, Guangdong, Zhejiang and Sichuan provinces and Shenzhen already. Allianz China Life's entry into Jiangsu Province marks the completion of its branch network in the Yangtze River Delta.

"The new branch is evidence of Allianz's commitment to developing our presence in the China market and offering excellent products and services to Jiangsu people," said Bruce Bowers, the regional chief executive officer for Allianz's insurance operations in Asia.

With its huge market potential and consumption power, the province has become a key investment destination for many German and European companies.

Headquartered in Shanghai, Allianz China is a joint venture between global insurance leader Allianz and CITIC Trust.