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BRIEF-Taiwan's China Life to acquire traditional policies and riders spun off from Allianz Taiwan Life
October 19, 2017 / 7:33 AM / in a month

BRIEF-Taiwan's China Life to acquire traditional policies and riders spun off from Allianz Taiwan Life

Oct 19 (Reuters) - China Life Insurance Co Ltd

* Says it plans to pay T$1 to acquire the traditional policies and riders spun off from Allianz Taiwan Life

* Says it expects the transaction to enhance profitability through the increase of policies in force and assets

* Says it expects its net profit can increase after the transaction is completed

* Says the transaction is subject to approval from special shareholders’ meeting and approval from regulators

* Says it can assume statutory reserves of T$27.6 billion ($913.85 million) and corresponding assets of T$49.8 billion

Source text for Eikon:

Further company coverage: ($1 = 30.2020 Taiwan dollars)

Reporting by Hong Kong newsroom

Our Standards:The Thomson Reuters Trust Principles.
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