News eDaily19 Nov 2018

China:Life reinsurer receives green light to issue capital supplementary bonds

19 Nov 2018

China Re has announced that its subsidiary, China Life Reinsurance (China Re Life), has received approvals from relevant regulatory authorities for the public issue of 10-year redeemable capital supplementary bonds with a size of up to CNY5bn ($720m).

The life reinsurer will issue the bonds in China's National Interbank Bond Market.

China Re said that the issuance of the capital supplementary bonds is conducive to further improving China Re Life's solvency and supporting the steady and healthy development of its business.

In July, China Re announced that another subsidiary, China Property and Casualty Reinsurance (China Re P&C), had received approval from relevant regulatory authorities to publicly issue 10-year redeemable capital supplementary bonds in the National Interbank Bond Market with the issuing size not exceeding CNY4bn.

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