The Chinese insurance company China Pacific Insurance and Swiss Re are in talks, says Bloomberg. According to the news, China Pacific would invest 2 billion dollars for a stake in Swiss Re and Swiss Re would invest 500 million – 1 billion dollars in China Pacific shares.
The China Pacific is looking for partnerships overseas and the company is also planning a GDP for global depositary receipts program in the London Stock Exchange. According to the news, this would mean about 10 % of the company’s A-shares capital.
Both companies shares have increased modestly in Zurich and in Hong Kong and Shanghai. Swiss Re rose 2,3 % in Zurich yesterday and China Pacific over 2 % today in Asia.