Generali China increases registered capital

Generali China Life Insurance Company Ltd has won the approval from the insurance regulator to increase its registered capital from 1.9 billion yuan ($278 million) to 2.7 billion yuan, the company said in a statement.

The capital injection will make Generali China??a joint venture between Italy financial group Generali and China National Petroleum Corporation??the highest capitalized company among foreign-funded life insurers.

Due to the rapid expansion last year, a number of foreign insurers have strengthened their capital base recently.