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China is expected to launch another specialized agricultural insurance company in East China's Anhui Province, the country's insurance regulator has said.

With a planned registered capital of 305 million yuan (US$39.41 million), the company named Guoyuan Agricultural Insurance Co Ltd, to be located in Hefei, capital of Anhui Province, is co-invested in by 12 companies and in preparation and should start operations before the year's end.

Guoyuan will also focus its business scope on planting and breeding industries. China has had three specialized agricultural insurers: the Shanghai-based Anxin Agricultural Insurance Company, Jilin-based Anhua Agricultural Insurance Company in Northeast China's Jilin Province and Yangguang Agricultural Mutual Insurance in Northeast China's Heilongjiang Province.

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The full text is available in the March Issue of China Insurance.

(For more biz stories, please visit Industry Updates)