Goldman Buys 12% Stake in China’s Taikang Life Insurance Co.

Goldman Sachs (GS) has bought a 12 percent stake worth more than $900 million in China’s Taikang Life Insurance Co Ltd, giving the Wall Street giant a foothold into the world’s biggest insurance market. Credit Suisse estimates China’s life insurance market –which generated $124 billion premium income in 2009 — will grow more than 20 percent per annum for the next decade. – Reuters

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