Insurers Seeking Opportunity from Aging Problem
Tuesday, Apr 13,2010, 9:31:19 PM Click:
Life insurers in the Chinese market cast eye to nursing community in succession as they are going to be allowed to invest in property.
Taikang Life Insurance Co., Ltd., the nation's fourth-biggest life insurer, established a unit namely Taikang Home Investment Co., Ltd. to take charge of the business days ago. It plans to invest CNY 4 billion in establishing a new-type nursing community namely Taikang Home in a plot of land with an area of about 2,000 mus (1mu = 667 square meters) in Changping District of Beijing.
China Life Insurance Co., Ltd. (SHSE: 601628), the nation's biggest life insurer, intends to invest about CNY 10 billion in establishing a nursing community in Langfang, Hebei Province, in the first phase. In addition, it is considering selecting a site for a nursing community in south China's Hainan Province. China is facing severe aging problem and insurers should play an important role in fighting for the problem, said Yang Chao, president of China Life Insurance (Group) Co.
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