China Taiping Considers Buying Taiping Life Stake From Parent

China Taiping Insurance Holdings Co. (966), which underwrites insurance through its subsidiaries, may buy a 25 percent stake in Taiping Life Insurance Co. from parent China Taiping Insurance Group Co.

The company is considering strategic investments which may be funded by issuing new equity, it said in a statement to the Hong Kong stock exchange today. No agreement has been made on possible acquisitions, it said. The company doesn’t plan to issue A shares in China, according to the statement.

Shares in China Taiping will resume trading tomorrow.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net.

To contact the editor responsible for this story: Simon Lee at slee936@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.