| Singapore's sovereign wealth fund, the Government of Singapore Investment Corporation (GIC), has subscribed to a private share placement by China Pacific Insurance Company (CPIC). GIC will be investing up to US$700m.
CPIC is one of the top three players in China's insurance industry. Prior to this latest investment, GIC holds 2.3 per cent of the shares in CPIC. Industry sources say the latest investment is attractive because of the low penetration of the life insurance industry in China and the country's favourable long term macro economics...............................................Full Article: Source
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