Shin Kong Life, one of Taiwan s biggest life insurers, is expected to post a gain of CNY428m ($66.3m) on the disposal of its remaining 25% stake in a loss-making life joint venture in mainland China.
The gain is expected to be booked by the Taiwanese insurer in its financial statements for this year.
Shin Kong Financial Holdings, the parent company of Shin Kong Life, disclosed the news on 29 June.
The board of directors of Shin Kong Life approved the sale of its 312.5m shares (25% equity) in Bejing-based Dingcheng Life.
The deal amounts to CNY462.5m, with the sale price being CNY1.48 per share. The buyer is the Wuxi-headquartered conglomerate Hodo Group. The sale is pending the approval of the CBIRC for it to be completed.