CHINA Insurance Hong Kong (Holdings) plans to list its insurance and investment arms in Hong Kong within the next two years, according to company officials.
The company's investment branch deputy general manager, M H Ngan, said he had met financial advisers to discuss how China Insurance should proceed with listing plans, but gave no details.
China Insurance vice-president Zhu Guoxiang said the company was considering taking a 20 per cent stake in Top Glory Insurance.
That position would allow China Insurance to draw on Top Glory's expertise in expanding its life insurance business in Hong Kong where it holds a two per cent market share.
Mr Zhu declined to speculate on whether or not China Insurance, which is owned by the mainland People's Insurance Company of China and has more than 100 projects inside and outside China, would be able to acquire the Top Glory shares this year.
He said Hong Kong's life insurance market presented an opportunity for the company to expand its business, noting that only about 30 per cent of Hong Kong residents had purchased policies.
