Finance: PICC to boost capital
(Shenzhen Daily)
Updated: 2006-07-27 15:42
PICC Property and Casualty Co., China's top non-life insurer, said yesterday
it planned to boost capital in its fund management venture to 800 million yuan
(US$100 million) from 100 million yuan.
PICC, along with subsidiaries of its parent company, will work with partner
MEAG, an insurance assets management specialist, to apply for joint stock
company status for PICC Asset Management Co.
PICC, along with rivals like Ping An Insurance Co., is trying to broaden its
business range and become a full-service financial services provider similar to
global giant Citigroup Inc.
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