Sep 14, 2023 08:05 PM

FINANCE

China Greenlights First Insurer’s Sales of Perpetual Bonds to Replenish Capital

By Zhang Yukun and Wu Yujian

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What’s new: Taikang Life Insurance Co. Ltd. has become the first insurer in China approved to replenish capital through the sale of perpetual bonds, just as many peers are seeking to bolster their finances to comply with a stricter regulatory scheme.

Taikang Life has been cleared to raise up to 20 billion yuan ($2.8 billion) through perpetual bond issuance, the national administration of financial regulation announced Wednesday.

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