China Life PC to let in strategic investor within 2008

Tuesday, July 01, 2008; Posted: 04:35 AM

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BEIJING, Jul 01, 2008 (Xinhua via COMTEX) -- LFC | Quote | Chart | News | PowerRating -- China Life P&C Insurance Co., Ltd. plans to let in international strategic investor within 2008, disclosed Liu Jian, president of the insurer.

Facing severe competition on the domestic market, the property unit is focusing more on individual property insurance and non-life insurance investment policies lacking in-depth development than traditional corporate insurance policies.

The property insurer was jointly founded by China Life Group and China Life Insurance Co., Ltd. (601628.SH; 2628.HK; LFC.NYSE) over a year ago with a 60 percent and 40 percent stake respectively. It has opened 15 provincial branches with its premiums totaling over 2.5 billion yuan in the first half of this year.

For full details on China Life Insurance Company (LFC) click here. China Life Insurance Company (LFC) has Short Term PowerRatings of 4. Details on China Life Insurance Company (LFC) Short Term PowerRatings is available at This Link.

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