皇冠体育app

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Goldman buys into 皇冠体育app's Taikang

(Agencies)
Updated: 2011-04-08 13:26

HONG KONG - Goldman Sachs has bought a 12.02 percent stake worth more than $900 million in 皇冠体育app's Taikang Life Insurance Co Ltd, as the US banking giant looks to benefit from growing demand for insurance products in the world's second-largest economy, Reuters reported on Friday.

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French insurer AXA SA said last month it agreed to sell its 15.6 percent in Taikang to a group of investors for $1.2 billion. The company did not disclose who the other investors are.

Taikang has about $44 billion in assets and 54 million clients across 皇冠体育app. The stake purchase was approved by the 皇冠体育app Insurance Regulatory Commission, the statement said.