Summary of Proposed Investment
Project Number
11741
Company Name
China Re Life
Date SPI Disclosed
Sep 9, 2003
Country
China
Industry
Financial Markets
Projected Board Date
Oct 9, 2003
Status
Completed
Sector
Reinsurance
Date Revised SPI Disclosed
Sep 10, 2003
Department
Regional Industry - FIG Asia & Pac
Environmental Category
C - No Impact
Previous Events
Approved : Oct 30, 2003
Signed : Nov 1, 2003
Invested : Nov 10, 2003
Project Description
The project entails an IFC equity investment of up to Rmb130 mn ($16 million approx.) for up to 7.5% of equity in a greenfiled joint stock life reinsurance company, China Life Reinsurance Company Limited (CLRC or the company). The company will be founded by China Reinsurance (Group) Corporation (China Re) and a number of domestic and foreign investors. The project represents a first major step on the part of China Re, which is 100% government owned, to attract private sector investors into its shareholding.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Ms. Feng Hongjuan, General Manager
No. 27, huayuan Road, Haidain District
Beijing, China 100088