BRIEF-New China Life Insurance's 2013 profit up 50.8 pct, plans 5 bln yuan subordinate bonds

March 26 Wed Mar 26, 2014 8:11am EDT

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March 26 (Reuters) - New China Life Insurance Co Ltd

* Says board agrees to plan of issuing up to 5 billion yuan ($806.14 million) subordinate bonds in 2014 with maturity longer than 5 yrs

* Says 2013 net profit up 50.8 percent y/y at 4.42 billion yuan

* Says aging population, urbanisation to create demand for China's insurance market

Source text in Chinese:

Further company coverage: ($1 = 6.2024 Chinese Yuan) (Reporting by Hong Kong and Singapore newsrooms)

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