China Life to launch PE vehicle
China Life has become the first Chinese insurance company to be granted a license by domestic regulators to raise private equity and real estate funds. Under rules published by the China Securities Regulatory Commission (CSRC) last September, insurers can commit up to 5% of total assets to private equity investments, and 10% to real estate. According to domestic reports, China Life has assembled a 30-strong team to scout investments and it already has at least one deal in the pipeline.
China Life, the world's largest insurer by market capitalization, claimed insurance premiums of RMB350.6 billion ($55 billion) at the end of 2010 and total assets of RMB1.77 trillion ($277 billion). On...
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