CHINA RE BUYS BACK MORE SUBSIDIARY INTERESTS AS IPO APPROACHES

China Reinsurance Group has bought out more minority stakes in its subsidiaries in preparation for its eventual listing. The company said that it had bought 80m shares in China Life Re from Japan-based Toa Re, Fuxi Investment and TICH-NITIC Medical Industry Co. The Group bought 160m shares each in China P/C Reinsurance from Toa and Fuxi, increasing its stake to 71.72%. It increased its stake in China Re Asset Management to 60% (120m shares) after buying 19.8m shares from Fuxi.