CCB Life revives China Core Tier 2

摘要

CCB LIFE INSURANCE last Wednesday became only the second issuer to sell offshore Core Tier 2 securities under China's revised regulations on solvency for the insurance industry. The insurer raised US$500m from an offering of extendible 60-year non-call five Core Tier 2 securities, rekindling a market that had been dormant for almost two years. "We see an increasing need from Chinese insurers for Core Tier 2 capital to strengthen solvency and to raise US dollars for some overseas asset diversification," said Frank Yuen, assistant vice-president at Moody's.