China Insurance plans Hong Kong listing

China Insurance International Holdings (CIIH), the Hong Kong unit of China Insurance Group, could raise around HK$412 million ($53 million) when it makes an initial public offering on the Hong Kong Stock Exchange later this month. But that's not the end of the story. Swiss Re, the worldÆs second largest re-insurance company, has agreed to take up 28.3% of the issue, according to the underwriter of the deal.