Companies

China Evergrande Group's life insurance subsidiary opens for business

BEIJING
2015-11-23 14:55

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China Evergrande Group's life insurance subsidiary, Great Eastern Life Assurance (China), opened for business on Sunday. Analysts say the move of entering into insurance business would produce synergistic effect with the Evergrande Group's operations in health care and internet industry.

Great Eastern Life Assurance (China) listed 50 percent stake of the company for sale in August. The Evergrande Group said it would expand the life insurance company's assets to 100 billion yuan by 2018, which is about 26 times of its scale in June.

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