Tian'an Insurance: no timetable for IPO

Tian'an Insurance Co on Wednesday said it has no timetable for its listing plan due to recent depressing market conditions.

An unidentified official with the company told reporters that the insurer has submitted an application to China's top insurance regulator for setting up an asset management company whose shareholders will be mainly derived from Tianan Insurance. To date, the approval has not been granted.

Shanghai-based Tian’an Insurance, founded in 1994, is China's fifth largest non-life insurer, providing full range of commercial insurance services, including property insurances, liability insurance, credit insurance, marine insurance, accidental injury insurance, health insurance, etc.