Alltrust Insurance to Expand Registered Capital to CNY1.25bn

Alltrust Insurance Company of China Ltd. recently gained approval from the China Insurance Regulatory Commission, the top Chinese insurance regulator, to expand registered capital by CNY 250 million.

After the capital injection, its registered capital will be CNY 1.25 billion. The stake Huaneng Capital Services Corp. Ltd. and Fairfax Financial Holdings Ltd. take in it will be 20 percent and 15 percent, respectively. And that controlled by China Datang Corp., China Huadian Group. China Guodian Corp., China Power Investment Corp., Shenzhen Energy Group Co., Ltd. and North United Power Corp. will be eight percent, each.

Headquartered in Shanghai, Alltrust Insurance was established by a list of large-sized Chinese companies including China Datang, China Guodian, and China Power Investment in September 2004 with a registered capital of CNY 1 billion. So far, it has opened 25 province-level braches and more than 150 central subbranches and marketing service outlets across the country.