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The China reinsurance Group and Taikang life insurance have submitted initial public offerings (IPOs) applications to the China Securities Regulatory Commission for approval, according to a Securities Times report on Monday.
China reinsurance has appointed China Galaxy Securities as its IPO underwriter, while Taikang Life has employed CITIC Securities as its underwriter, the report said.
According to the report, if the applications are approved, the insurance companies will become the first two insurers to be listed on the A-share market after China Pacific Insurance Corp. (CPIC, SSE:601601) listed in 2007.
The report quoted a source from one of the two insurers’ IPO underwriters as saying that at least one insurance company will get listed on the A-share market in the fourth quarter of this year.
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