China Life eyes oversea investment after cutting Visa stake

Wed. August 27, 2008; Posted: 04:40 AM

BEIJING, Aug 27, 2008 (Xinhua via COMTEX) -- V | Quote | Chart | News | PowerRating -- China Life (LFC.NYSE; 2628.HK; 601628.SH) will continue to eye on investment opportunities overseas though it has cut its stake in Visa Inc. by half, Shanghai Securities Journal quoted a company official as saying.

The company has been observing overseas investment and it seems more opportunities are emerging after recent falls on international capital markets, said Chief Investment Officer Liu Lefie.

The insurer, China's largest life insurer by premiums, has not invested overseas since it bought a stake of less than 1% in Visa for 260 million US dollars during the credit-card firm's initial public offering.

As for inviting strategic partners, Liu said significant progress has been achieved but declined to elaborate.

The insurer also said it will participate in industrial investment to complement its existing investment mix.

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

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