China's Union Life to offer three investment-linked insurance products |
|
|
|
Published
:
Wed, 21 Nov 2007 04:55
|
BEIJING (XFN-ASIA) - The China Insurance Regulatory Commission said it has given its approval to Union Life Insurance Co, in which Eurizon Financial Group holds a 19.9 pct stake, to launch three insurance products linked to stock investment.No further details were provided.Union Life posted premium income of 2.26 bln yuan in the first nine months.Earlier this year, Eurizon, a fund management and insurance unit of Intesa Sanpaolo SpA, paid 6.5 yuan per share, or a combined 860 mln yuan, for the 19.9 pct stake in Union Life, becoming the insurer's second largest shareholder.Union Life is reportedly to sell another 5 pct stake to Japan's Taiyo Life Insurance Co at 8 yuan per share.(1 usd= 7.42 yuan)allen.shu@xfn.com-xfnals/xfntmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
Print this Story
ING China insurance JV, Ping An life to offer more investment-linked products 