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Aviva-Cofco Life raises registered capital by US$51.2m

By Su Yue (chinadaily.com.cn)
Updated: 2007-01-15 13:46

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TheChina Insurance Regulatory Commissionrecently approved Aviva-Cofco Life Insurance Co Ltd to increase the company's registered capital by 400 million yuan (US$51.2 million) to a total of 900 million yuan (US$115.3 million).

The increased amount was jointly invested in by Aviva PLC and China Cereal, Oil and Foodstuff Group (COFCO), the two partners of Aviva-Cofco Life Insurance.

Zhang Wenwei, president of Aviva-Cofco, said that both partners of the company pin great hope on the future development of the company. The successful increments of registered capital can effectively boost the company's capital strength, solvency capability and insurance capacity.

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The full text is available in the January Issue ofChina Insurance.