China Reinsurance gears up for HK IPO

The reinsurance group is looking to raise capital ahead of a new capital requirement regime that comes into effect in China next year.
China Reinsurance was the country’s largest property and casualty reinsurer in 2013
China Reinsurance was the country’s largest property and casualty reinsurer in 2013

China Reinsurance plans to tap the Hong Kong Stock Exchange for as much as $2 billion ahead of new capital requirements for insurance companies that take effect next year.

The mainland insurer filed its listing application with the stock exchange last week in which it indicated it would float at least 15% of its enlarged share capital in the Hong Kong offering. 

China Reinsurance will begin marketing the IPO in October and aims to complete the transaction by November, according to a person familiar with the matter. Joint sponsors CICC, HSBC and UBS will start fielding questions from the Hong Kong exchange this week, and...

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