Hangzhou-headquartered Sinatay Life Insurance plans to double its registered capital to 1.2 billion yuan ($176.77 million)this month to fuel its rapid expansion, the company's spokesman said on Friday.
The company's premium income hit 1.17 billion yuan in the first half-year, up 143 percent over the same period of last year.
In April, Japan's second-largest insurer Mitsui Sumitomo Insurance Company bought a 7 percent stake in the company, pushing its registered capital to 655 million yuan.