CHINA LIFE TO LAUNCH MICRO-INSURANCE PORTFOLIO

China Life is preparing to launch a portfolio of micro-insurance products across the country this month. The company unveiled its pilot programme which includes four personal insurance products, three group insurance products and two micro-loan products this week. The initial launch will cover nine provinces, including Gansu and Heilongjiang, before being extended to the rest of the country. In May last year the China Insurance Regulatory Commission (CIRC) set up a committee to focus on micro-insurance development in the country. It says micro-insurance has played a significant role in helping people, especially those who live in rural areas in developing countries, run out of poverty.