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(From Business Daily Update)
Author: Shanghai-based Sino Life Insurance Co Ltd, an affiliate of Japan's Millea Holdings Inc, has started operations, the Ministry of Commerce (MOC) said. Sino Life Insurance was set up in December 2001 with registered capital of 1.358 billion yuan (US$163.6 million). It is the fourth largest domestic insurer following China Life Insurance Co Ltd, Ping An Insurance Co Ltd and China Pacific Insurance (Group) Co Ltd in terms of registered capital. Two subsidiaries of Millea Holdings -- Tokio Marine and Fire Insurance Co Ltd …