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Insurance: China Life in tie-up

(chinadaily.com.cn)
Updated: 2006-03-14 10:30

China Life Insurance Co Ltd said on Tuesday it would team up with its parent to set up a property and casualty insurance firm in China with registered capital of 1 billion yuan (US$124 million). (Reuters)

XL Capital, one of the world's top 10 insurers, wants to focus its future business in China on reinsurance and liability insurance. The company has set up a representative office in China, opened in Beijing in January, but is not yet directly involved in the insurance business in the country. (China Daily)