CHINA LIFE TO LAUNCH BROKING SUBSIDIARY

China Life Insurance, the leading assurer in China in premiums written, is to launch an insurance broking joint venture in association with state-owned Sinocoal International Engineering Design & Research Institute. The new operation, likely to be called China Life Safety Insurance Broker Stock Co, is scheduled to begin operating this year. It will be based in Beijing and will be headed by Yang Jiaquan, formerly general manager of the assurer’s Heilongjiang branch.