ING Capital Life Insurance Company and Guohua Life Insurance Company have been granted permission by the China Insurance Regulatory Commission to invest in local stock markets, according to AFX News.
ING Capital Life Insurance Company is a joint venture between ING Group and the Beijing Capital Group. China Pacific Asset Management Company, a unit of China Pacific Insurance Company has been made the assignee for Guohua Life.
China Insurance Regulatory Commission (CIRC) has not disclosed as to which company will be the asset manager for ING Capital Life.