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Article: CHINA LIFE INSURANCE TO SET UP PROPERTY ARM.
- Article from:
- AsiaPulse News
- Article date:
- September 6, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Sept 6 Asia Pulse - China Life Insurance Co (SEHK:2628), the country's largest life insurer, has received the green light to set up a property and casualty insurance arm.
The move, approved by the industry regulator, will expand the company's core business scope, top managers said yesterday.
"Non-life insurance and pensions will be included in our core business portfolio very soon," said Yang Chao, president of China Life, adding the insurer's current major business lines are life insurance and assets management.
"The property and casualty arm will probably be launched by China Life Insurance (Group) and China Life Insurance Company ...