China Life Insurance, the mainland's largest life insurer, said yesterday it would inject 1.2 billion yuan (HK$1.35 billion) into its property and casualty insurance joint venture to further strengthen the capital base. Following the injection, China Life's stake in China Life Property and Casualty Insurance will remain unchanged at 40 per cent. Its state-owned parent China Life Insurance (Group), which holds 60 per cent in the non-life unit, will inject capital into the unit in proportion to its stake. Registered capital at the property and casualty unit will increase to 4 billion yuan from 1 billion yuan. The funding would be financed by the company's internal resources, the Beijing-based insurer said. China Life said the money would enable the company 'to share the benefits from the rapidly growing non-life insurance market and to fully utilise the potential of its existing sales channel and to achieve effective deployment of the company's existing resources'. China Life Property and Casualty, which started operations on December 30, 2006, reported a post-tax loss of 338.65 million yuan last year, based on mainland accounting standards. At the end of last year, its audited net asset value was 712.4 million yuan.