Taiwan's Shin Kong to inject T$3 bln more in unit

TAIPEI, April 9 (Reuters) - Shin Kong Financial (2888.TW), parent of Taiwan's No. 2 life insurer, will invest an additional T$3 billion ($99 million) in its insurance arm to help make up the writedowns it had due to the U.S. subprime crisis.

The latest injection comes after a T$7 billion rights issue earlier this year to help improve its financial structure, the company said in a statement late on Tuesday after a board meeting.

Shin Kong Life, the insurance arm, wrote off a total of T$1.76 billion for credit impairment from its investment in collateralised debt obligations (CDOs), it said.

On Wednesday, Shin Kong's stock had jumped 3.9 percent to its highest level in almost three weeks, beating a 1 percent gain on the broader market . (US$1=T$30.5) (Reporting by Faith Hung; Editing by Anne Marie Roantree)