Friday, March 07, 2008

China Life seeks for overseas acquisition and foreign investors

China Life Insurance<601628><2628>, the country's largest insurer, is seeking overseas acquisitions and foreign investors as it has sufficient capital for overseas expansion, said Chairman Yang Chao.

"We are interested to expand overseas. And the right opportunities are the most important. We must think a lot before we start action." Yang said. He said earlier that the second quarter and beyond presented a good opportunity for its expansion.

Yang said overseas acquisitions could bring high returns, as well as could help introduce advanced technologies to promote the company's self-controlling and management abilities.

In addition, China Life will focus on expansion into China's rural areas this year where insurance services have a large market, according to Yang, and he hoped that such a move could help the firm to gain profit.

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