Fortis and China Insurance group to launch life insurance JV

With the new JV, Fortis is aiming to capture the precious national life insurance license.

Dan Slater

October 22, 2001

European financial services provider Fortis has signed a life insurance company agreement with China Insurance Company (CIC), and its Hong Kong-listed subsidiary China Insurance International Holdings (CIIH). Fortis is to acquire 24.9% of the new joint venture, Tai Ping Life (TPL), for $88 million in equal proportion from both CIIH and CIC.

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