CHINA – IFC INVESTMENT
November 1st, 2003
BY KEITH NUTHALLTHE INTERNATIONAL Finance Corporation, of the World Bank, is making a US$15.3 million equity investment in China Life Reinsurance Company, to improve its efficiency in serving domestic Chinese customers. China Life Reinsurance Company is a spin-off from the state-owed China Re. The new company will have multiple domestic and foreign shareholders, and will be initially capitalized at RMB 800 million (US$96.66). The Chinese government's stake will be less than 50 per cent. "Life insurance is an important ingredient of support for the financial ...
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