May 22, 2025
    Advanced Search 
  Home>News Center>Bizchina
       
 

First cross-Straits life insurance JV approved
(Xinhua)
Updated: 2004-04-29 10:14

Preparations are under way to set up China's first cross-straits life insurance joint venture with the approval of China Insurance Regulatory Commission, according to Cao Jianxiong, vice-president of China Eastern Air Holding Company on Tuesday.

The new life insurance company is expected to be based in Shanghai with 800 million yuan (US$96.4 million) of registered capital.

China Eastern Air Holding Company based in Shanghai and Cathay Life Insurance Co Ltd based in China's Taiwan province will hold the stocks half by half.

As the largest life insurer in China's Taiwan province, Cathay Life Insurance Co Ltd covers a market share of 33 percent in Taiwan.

China Eastern Air Holding Company, one of China's three major air groups, now possesses approximately 200 aeroplanes operating on domestic and overseas air routes.

 
  Story Tools  
 
Font Large Medium Small
E-Mail This Story
Print Friendly Format
Comment On This Story
Save This Story
 
  Related Stories  
   
China Life sees low-margin policies as growth driver
   
Chinese life insurance experts to gather in Dalian
   
Foreign insurers rush into China
   
Life insurance rules to be revised
Advertisement
         

| Home | News | Business | Living in China | Forum | E-Papers | Weather |

| About China Daily | About China Daily.com.cn | Contact Us | Site Map | Jobs |
 Copyright 2005 Chinadaily.com.cn All rights reserved. Registered Number: 20100000002731