NIPPON LIFE SET TO LAUNCH SHANGHAI JOINT VENTURE

Japanese mutual assurer Nippon Life is poised to launch a joint venture life assurer in Shanghai, Nihon Keizai Shimbun reports. The 50:50 venture, to be called SVA-Nippon Life Insurance Co, has been established with China-based electronics manufacturer Shanghai SVA Information Industry Co and will begin by selling death coverage in the Shanghai region. It will have an initial staff of 50 and reportedly expects to turn a profit by 2010 at the soonest.