New China Life Insurance, the country’s third-largest life insurance company, raised US$1.9 billion in a dual initial public offering in both Hong Kong and Shanghai, Bloomberg reported. The company raised US$1.3 billion and US$582 million in its Hong Kong and Shanghai shares sales, respectively, both of which were near the bottom of a marketed range. New China Life will use the funds to increase its solvency ratio, which was 87% at the end of September, below rivals China Life (LFC.NYSE, 601628.SH) and Ping An (601318.SH, 2318.HKG). Investor interest in new offerings has slowed amid continued uncertainty around the European debt crisis, with the Hang Seng Index down 17% since the start of the year. Nevertheless, December will see several large IPOs from companies seeking to list before the Chinese new year holidays in January. Chow Tai Fook Jewellery Group may seek as much as US$2.8 billion, in what would be the largest Hong Kong IPO this year.