China Life in latest overseas property move

$4.55b financing deal in the US marks continuation of shift by insurers to globalize investment portfolios

China Life Insurance (Group) Co, the country's largest insurer, has announced its involvement in a major overseas property investment - the latest in a series of real estate moves by the company, as it targets leading international markets.

The company has joined forces in helping finance the all-cash $4.55 billion acquisition by Singapore-listed Global Logistics Properties Ltd of a controlling 66 percent stake in Industrial Income Trust Inc, a Denver-based industrial real estate trust.