China is being pursued as the next expansion region for insurer IAG.

Speaking at a business lunch in Melbourne on Friday, CEO Mike Wilkins said the company is in discussions with a number of companies about a possible joint venture, but cautioned that any talks are in the early stages.

It’s not known if IAG will expand on its relationship with the China Automobile Association, its roadside assistance and insurance agent in the region, or seek out a new partner.

IAG’s Chinese aspirations were aired as its new Indian joint venture prepares to take its first steps. SBI General Insurance Company, in which IAG has a 26% stake, is now due to begin trading later this year.

SBI holds a 74% stake in the venture, with IAG holding the rest. Its 26% holding is the maximum allowable under India’s current foreign investment laws, but IAG has an option to increase it to 49% in future if regulatory and other conditions are relaxed as expected.