Tuesday, February 10, 2009

Fund injection

China Life Insurance Co, the nation's largest insurer, and its parent company plan to inject a total of 2 billion yuan (US$293 million) into China Life Asset Management Co to bolster capital at the joint venture.

The Beijing-based insurer will provide 1.2 billion yuan, it said in a statement to Hong Kong's stock exchange yesterday. China Life Insurance (Group) Co will contribute the rest. The insurer will continue to own 60 percent of the asset management unit, and the parent will hold the remaining 40 percent.

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